please please ALL GURUS kindly clarify on tax part of bringing money at 2nd entry.
Am trying to understand the procedure.i have no immediate plan for coming back to my home country but my mom is SERIOUSLY ill..-and just in case i have to come back to see her or God forbid...!my coming back if required will be of short period..may be not more than 2months.i hope i dont be in any situation that asks for returning back to my home country even for shortest of while. if i come back (2nd entry) what amount of money i can bring. can i take the money back shown as POF
Second time or any other time after the 1st landing you are not required to show POF . However you can bring any amount and over $10000, have to declare it. There are no tax implications at the airport, if you cliam on question that it was your money in other country - no tax, if you say that you earned this money after becoming PR - then it is taxable. But no tax issues at airport. It is when you file tax returns with CRA.
You can take back the POF also.