Off shore Investments

[meldxb]

I have some off shore investment savings policies that are in force. I am already a Permanent Resident however these were not declared at the time of landing. I plan to make a final move to Canada this year so can anyone advise how to declare these offshore savings in order to prevent future taxation in case I need the money for an emergency?

 

[steaky]

I suggest you read the Canada revenue agency website for how to declare your savings overseas.

You don't need to declare them at time of landing.

 

[Jonboy]

Get a statement (or statements) showing the values of the policies on the day you move to Canada to live. You pay tax in Canada or earnings after this date or realized capital gains form the period you moved here to the date you sell.

 

[agrisiva]

check this out. Also note as a newcomer this form is not required for your first year of tax filing.

http://www.cra-arc.gc.ca/tx/nnrsdnts/cmmn/frgn/1135-eng.html