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POF Question

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V

vipulgoyal88

Star Member
May 6, 2015
126
2
Hi Guys, just another POF question...

So I have close to 16000CAD in my bank account out of which 8000 was gifted my dad. I am single so I need only 12000. I have created a 3 month FD of 12000 and now am left with extra 4000 CAD. A friend of mine needs some money and I want to lend this to him, do i need to do any documentation for lending this money to him or can I just transfer money to him?
 
You can certainly lend that money to your friend - CIC doesn't even need to know about that. You'll have to prove that the 8000 CAD was indeed a gift from your father.
 
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