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.
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?
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.
ddev said:
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?
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.
