As a general rule, if I could not find a job in six months on arrival in Canada I can apply for a wellfare. My question is that, can I still apply for it under the following circumstances:

1. On arrival I have declared my funds left in the country of previous residence?

2. On arrival I have declared the property left there?

Please answer the both sub-questions.

Another question relates particularly my funds in the bank at home in previous country. You say that if brought to Canada within one year they are not subject to Canadian tax. The question is if I can not, being a Canadian resident, to have a foreign bank account (in my previous country for instance)? Why can not I spend from this account without bringing it to Canada and still not pay tax (I do not mean here tax on interest from this account)?

Thank you in advance.

In respect of your last question on your foreign bank account, for Canadian tax purposes you can keep that offshore account. However, you will be subject to Canadian income tax on the interest income earned on the account and will be required annually to file an income information return each year if the total cost amount at any time during the year of offshore investment properties is more than CAN$100,000.

Disclaimer
The nature of this facility is to provide a general response to a general question. Under no circumstances should anyone act on this information without obtaining analysis and counsel from a qualified advisor with respect to the specific situation.

Phillip Nadler, CA
Richter Usher & Vineberg
http://www.richter.ca