Taxes for new immigrant

[Rina2182]

Canada tax cycle is jan-dec, right?. do newly landed immigrant have to pay taxes on settlement funds they brought to the country. If yes, then are we able to claim child benefit against the taxes.

 

[torontosm]

Canada tax cycle is jan-dec, right?. do newly landed immigrant have to pay taxes on settlement funds they brought to the country. If yes, then are we able to claim child benefit against the taxes.

The tax year is indeed Jan-Dec, and the tax filing deadline is April 30. There are no taxes on money brought into Canada. Child tax benefits are paid throughout the year,.

 

[jazibkg]

The canadian tax system is complex and comprehensive. There are many types of child deductions and tax credits that can be offset against tax owing. Tax is not owed for the part of the year you were not resident in Canada. The 'canada child tax benefit' however is a cash benefit payable to parents of the children, and which are by its nature non-taxable income.