REGARDING MONEY

[ddev]

Hi dears,

during my immigration process while i submit my passport along with a form (i can't remember its name) where i replied two questions...

1) how much money i intend to take with me in canada first time?

2) any/how much money will i take later?

i replied the 1st with an amount and the 2nd one with N/A.

will there be any problem (like they will impose tax OR something else) if i take money with me while i enter canada for the 2nd time on may 2013?

DDEV

 

[ddev]

please comment

 

[hotrockloveu2012]

Dear DDEV,

At immigration counter you filled that info

Rock

 

[wilson]

Hi dears,

during my immigration process while i submit my passport along with a form (i can't remember its name) where i replied two questions...

1) how much money i intend to take with me in canada first time?

2) any/how much money will i take later?

i replied the 1st with an amount and the 2nd one with N/A.

will there be any problem (like they will impose tax OR something else) if i take money with me while i enter canada for the 2nd time on may 2013?

DDEV

Even if you take few millions of dollars while landing, as a new immigrant, you are not liable for Canadian tax. You can take more money if you have than the required POF or declared amount. But if you have more than 10, 000 CAD during arrival, you need to declare at the arrival.

 

[ddev]

Even if you take few millions of dollars while landing, as a new immigrant, you are not liable for Canadian tax. You can take more money if you have than the required POF or declared amount. But if you have more than 10, 000 CAD during arrival, you need to declare at the arrival.

thanks wilson for your reply. i know that first time it does not matter. but what about for the second time entry? will they impose any tax on my money that i will carry on may 2013?

thanks

 

[RockinCanada]

Read this article. It will clear your doubts.

http://www.cbc.ca/news/business/taxseason/story/2012/04/18/f-taxseason-filing-taxes-living-abroad.html

What I understand from it, if you are a permanent resident of Canada, if you can prove that the money you are bringing in has been tax-paid, you might be eligible for tax adjustment according to canadian tax laws. you have to show it on your tax return though.

thanks wilson for your reply. i know that first time it does not matter. but what about for the second time entry? will they impose any tax on my money that i will carry on may 2013?

thanks

 

[ddev]

Read this article. It will clear your doubts.

http://www.cbc.ca/news/business/taxseason/story/2012/04/18/f-taxseason-filing-taxes-living-abroad.html

What I understand from it, if you are a permanent resident of Canada, if you can prove that the money you are bringing in has been tax-paid, you might be eligible for tax adjustment according to canadian tax laws. you have to show it on your tax return though.

thanx RockinCanada!