Is money I moved after landing in my first year, taxed?

[aman.alam]

I am a PR since last ~5 months, and I got some money from my home country (India) around 30 days ago.

These are savings from bonuses and stocks' sales, which have already been taxed in India.

Will they be taxed here in Canada again?

I'll have some more money (already tax paid) coming in future, will that be taxed too?

Thanks in advance!

 

[canuck78]

All depends whether you sold the stocks when you were a resident for tax purposes in Canada.

 

[aman.alam]

No, as I said, the stocks etc were sold when I was in India, before even receiving the CoPR, and the taxes on them, and the bonuses, have already been paid in India

 

[canuck78]

No, as I said, the stocks etc were sold when I was in India, before even receiving the CoPR, and the taxes on them, and the bonuses, have already been paid in India

As long as it was done in a tax year where you weren’t in Canada then it is fine.

 

[aman.alam]

As long as it was done in a tax year where you weren’t in Canada then it is fine.

When you say "it was done", you mean the transfer to Canadian account?
or the selling of stocks, deposit of bonus, and taxes on these both?

 

[canuck78]

When you say "it was done", you mean the transfer to Canadian account?
or the selling of stocks, deposit of bonus, and taxes on these both?

Not transferred but sold stocks and awarded bonus in that tax year. If you got your bonus in the same year you moved to Canada and were a tax resident in Canada that year you would have to look at if there was a tax treaty with India.