As per thread title. Apologies if this has been asked before. Kindly point to the the thread and I will request closure of this thread.
I have an apartment back in India. I recently completed my short landing process and I am back.
I asked the customs officer, while he was stamping my B4 forms, as to what the procedure is regarding this. He was not fully aware but he told me cash is never taxed in Canada as long as I declare it. So if I sell my flat for 100k and get it into Canada as cash, declare it, I will not be taxed. Of course this is not feasible.
If I sell my flat, I will wire transfer the proceeds to Canada. Does anyone know if this money will be taxed?
While in Canada, I called the helpline asking about this but they asked me to refer to a specialised tax consultant.
Any ideas here?
I have an apartment back in India. I recently completed my short landing process and I am back.
I asked the customs officer, while he was stamping my B4 forms, as to what the procedure is regarding this. He was not fully aware but he told me cash is never taxed in Canada as long as I declare it. So if I sell my flat for 100k and get it into Canada as cash, declare it, I will not be taxed. Of course this is not feasible.
If I sell my flat, I will wire transfer the proceeds to Canada. Does anyone know if this money will be taxed?
While in Canada, I called the helpline asking about this but they asked me to refer to a specialised tax consultant.
Any ideas here?
