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jj123to
Member since 23-Mar-02
24-Mar-02, 02:12 PM (EST)
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"Declaration upon landing"
 
   Dear Mr. Cohen,

In a former correspondence in this forum you have stated that one should declare, upon landing, only of funds that were stated in his application.
Considering I have additional assets that were not stated in my application (which I intend to transfer to Canada on a later date)- do I need to declare them, too, upon landing ? I wouldn't like, of course, to pay taxes on the ENTIRE assets values (as a totally new income) once transferring them to Canada.
Another question: What form of declaration is needed upon arrival ? Does it have to be a formal (notarized?) document, or - is a written declaration (by myself) sufficient ?

Many thanks,
Jack


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dcohenadmin
Charter Member
2014 posts
21-May-02, 03:50 PM (EST)
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1. "RE: Declaration upon landing"
In response to message #0
 
   Income tax in Canada is based on residency. Canadians are not generally taxed on the basis of income earned prior to being a resident here. As such, your belongings would generally be considered exempt. If your situation is complex, it would be advisable to seek the consultation of an expert in Canadian taxation.

________
CAMPBELL, COHEN - attorneys at law
tel:514.937.9445 / fax:514.937.2618
info@canadavisa.com
http://www.canadavisa.com


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