Tax File

[OCT2014]

Hi,
I am on work permit and I have full time job.I also have filled for Permanent residency of Canada under CEC class in 2014.
If i want to receive money from India to my bank in Canada through wire transfer up to $25000,do i have to file in the tax.
Do I have to provide any documentation/proof why I need this much money here?

I am not sure if it is a right place to ask in this forum.

Thanks in Advance

 

[Neha2703]

No that money is not taxable. Dw

 

[maria_786]

if its from a spouse to support u, u should keep the recepit for a proff, bcz u can calim that for tax purposes, but then again it depends on ur income and other things as well.

 

[xecuter]

Hi,
I am on work permit and I have full time job.I also have filled for Permanent residency of Canada under CEC class in 2014.
If i want to receive money from India to my bank in Canada through wire transfer up to $25000,do i have to file in the tax.
Do I have to provide any documentation/proof why I need this much money here?

I am not sure if it is a right place to ask in this forum.

Thanks in Advance

No you don't need to provide anything.

This does not count as an income on your income tax.

Cheers

 

[jes_ON]

Hi,
I am on work permit and I have full time job.I also have filled for Permanent residency of Canada under CEC class in 2014.
If i want to receive money from India to my bank in Canada through wire transfer up to $25000,do i have to file in the tax.
Do I have to provide any documentation/proof why I need this much money here?

I am not sure if it is a right place to ask in this forum.

It depends on the source of that $25,000. If it is for income earned overseas while being a resident of Canada, then yes, it is taxable income. But if it's from your own savings/income earned before coming to Canada, then no, it is not taxable. Gifts/inheritances are generally not taxable. So... it depends....

And yes, there is a separate forum for taxation questions.
http://www.canadavisa.com/canada-immigration-discussion-board/canadian-finance-and-taxation-b25.0/

 

[Goku]

It depends on the source of that $25,000. If it is for income eared overseas while being a resident of Canada, then yes, it is taxable income. But if it's from your own savings/income earned before coming to Canada, then no, it is not taxable. Gifts/inheritances are generally not taxable. So... it depends....

And yes, there is a separate forum for taxation questions.
http://www.canadavisa.com/canada-immigration-discussion-board/canadian-finance-and-taxation-b25.0/

I second that. Very well answered jes_ON. +1