Query on transferring funds to Canada after short landing

[nikjuneja]

Hi Seniors, vgm to all.

I had one specific query related to transferring funds from india to Canada.

Below is my scenario:
I landed in Jul 2014 , joined a job for 1 month and had to come back in Sep 2014.
I still have my account opened in Canada.
I didn't file tax returns in Canada.
While in india, i was working and earned some more income.
Now i want to shift to Canada permanently but wanted to know the tax implications if I do a WIRE transfer from India to Canada
As i have already paid on this income in India.

Regards,
Nik

 

[torontosm]

Hi Seniors, vgm to all.

I had one specific query related to transferring funds from india to Canada.

Below is my scenario:
I landed in Jul 2014 , joined a job for 1 month and had to come back in Sep 2014.
I still have my account opened in Canada.
I didn't file tax returns in Canada.
While in india, i was working and earned some more income.
Now i want to shift to Canada permanently but wanted to know the tax implications if I do a WIRE transfer from India to Canada
As i have already paid on this income in India.

Regards,
Nik

There are no tax implications. You can move as much money as you want into Canada without paying taxes, as you are still not a resident of Canada for tax purposes as of yet.

 

[nikjuneja]

There are no tax implications. You can move as much money as you want into Canada without paying taxes, as you are still not a resident of Canada for tax purposes as of yet.

Thanks buddy for the information, would it be possible for you to share a link for such information?