candy555
Full Member
Posts: 22
Ratings: +0
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« on: April 17, 2011, 01:26:06 am » |
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Hi all,
We will be landing soon. We would like to transfer around 60,000 CADS into our Canadian account, with in 6-12 months of landing to buy a house.
Kindly advise :
Should we declare this at the POE at first landing?
Is there any specific form for this declaration?
Would this money be taxable
Advise please.
Regards
Candy
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Londonqtr
Star Member
Posts: 175
Ratings: +5
Category........: FSW1
Visa Office......: London - UK
NOC Code......: 4131- 4121
Pre-Assessed..: Yes
App. Filed.......: April 09
Doc's Request.: May - 09
AOR Received.: Oct - 09
IELTS Request: Done my Ielts in Sept. and Sent after 120 days.
File Transfer...: Oct - 09
Med's Request: May 2010
Med's Done....: June 2010
Interview........: Waved
Passport Req..: 15-3-2011
VISA ISSUED...: April 2011
LANDED..........: Landed and Got the PR
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« Reply #1 on: April 17, 2011, 03:13:58 am » |
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I am seriously interested to know the answers of all your questions.
People Please reply...
regards
londonqtr
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vermas
Hero Member
Posts: 841
Ratings: +48
Category........: FSW3
Visa Office......: Buffalo Transferred to NY
App. Filed.......: 09-11-2009
Doc's Request.: 23-02-2010
AOR Received.: 24-09-2010
File Transfer...: 02-03-2010
Med's Request: 04-01-2012
Med's Done....: 07-01-2012
Interview........: Waived
Passport Req..: 09-02-2012
VISA ISSUED...: 5 March 2012 (In Person)
LANDED..........: 19 April 2012
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« Reply #2 on: April 17, 2011, 03:24:54 am » |
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Hope you will find info on following link helpful. http://britishexpats.com/wiki/Goods_To_FollowCheers.... Hi all,
We will be landing soon. We would like to transfer around 60,000 CADS into our Canadian account, with in 6-12 months of landing to buy a house.
Kindly advise :
Should we declare this at the POE at first landing?
Is there any specific form for this declaration?
Would this money be taxable
Advise please.
Regards
Candy
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22Feb10-CIO AOR
2Mar-Application transferred to Buffalo
29Mar-Full docs recd @ Buffalo
24Sep-Buffalo AOR
19Oct10-In Process
13Oct11-File transferred to NY
4Jan12-MI recd
7Jan-Med done
1Feb12-RPRF @ NYVO
9Feb-PPR recd
5March-Visa
19Apr-Landed
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candy555
Full Member
Posts: 22
Ratings: +0
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« Reply #3 on: April 17, 2011, 10:02:46 am » |
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Hi,
Seniors please advise on my questions. Thanks in advance.
Candy
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Mezo2009
Champion Member
Posts: 1358
Ratings: +62
Visa Office......: London
LANDED..........: Oct 2011
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« Reply #4 on: April 17, 2011, 10:05:15 am » |
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Yes you need to declare these funds, otherwise, these will be taxable. I will try to find you a reference link.
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JCSR
Member
Posts: 12
Ratings: +0
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« Reply #5 on: April 17, 2011, 11:21:54 am » |
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Hello Friends
I will be landing shortly with my wife and 2 kids and the amount needed to carry is Cad$20,599/-.
My question is, is it legally allowable to carry the entire amount in cash because I found that I will be loosing heavily on the exchange rates if I carry a draft.
I am in Dubai at the moment and the UAE Dirham is loosing on the Cad$. At my airport of landing will the Visa Officer create a hassle for me.
Thanks in advance
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steaky
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« Reply #6 on: April 17, 2011, 11:28:28 am » |
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The officers at YVR, for example, will just ask you how much you are carrying in cash (in equivalent to Canadian dollars). Declare it. No hassle. Perhaps long line-ups.
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Mezo2009
Champion Member
Posts: 1358
Ratings: +62
Visa Office......: London
LANDED..........: Oct 2011
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« Reply #7 on: April 17, 2011, 11:54:35 am » |
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Hello Friends
I will be landing shortly with my wife and 2 kids and the amount needed to carry is Cad$20,599/-.
My question is, is it legally allowable to carry the entire amount in cash because I found that I will be loosing heavily on the exchange rates if I carry a draft.
I am in Dubai at the moment and the UAE Dirham is loosing on the Cad$. At my airport of landing will the Visa Officer create a hassle for me.
Thanks in advance
No issues at all, you just need to declare it at POE. Whoever carries more that CAD$10,000 or equivalent in foreign currencies has to declare it. |
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JCSR
Member
Posts: 12
Ratings: +0
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« Reply #8 on: April 18, 2011, 04:54:47 am » |
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Thanks for all your answers friends  |
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candy555
Full Member
Posts: 22
Ratings: +0
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« Reply #9 on: April 19, 2011, 01:47:28 am » |
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Hi, I am still waiting for the answers for my queries. We are landing on 25 April. PMM or other senior members kindly respond.
Regards
Bozica
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wilson
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« Reply #10 on: April 19, 2011, 09:01:55 am » |
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Hi all,
We will be landing soon. We would like to transfer around 60,000 CADS into our Canadian account, with in 6-12 months of landing to buy a house.
Kindly advise :
Should we declare this at the POE at first landing?
Is there any specific form for this declaration?
Would this money be taxable
Advise please.
Regards
Candy
Hi,  There is no tax for the money you transfer from other country to your account in Canada for settlement purpose. You don't have to declare in advance about the money you are planning to bring (transfer) in the future. Declaration is required if you carry an amount exceeding CAD 10,000/= while you land. |
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When one door closes, another opens; but we often look so long and so regretfully upon the closed door that we do not see the one that has opened for us."
- Alexander Graham Bell
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barsindoo
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« Reply #11 on: April 19, 2011, 04:13:55 pm » |
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Hi, There is no tax for the money you transfer from other country to your account in Canada for settlement purpose My thoughts also. The government is aware that we had a established life in our previous locations.. You don't have to declare in advance about the money you are planning to bring (transfer) in the future. Declaration is required if you carry an amount exceeding CAD 10,000/= while you land. |
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...but you brought us to a place of abundance.
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candy555
Full Member
Posts: 22
Ratings: +0
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« Reply #12 on: April 20, 2011, 12:29:38 pm » |
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Hi,
Thanks for all the responses. But one of my question is still there
If you receive money into Canada after landing from your home country, will that be TAXED?
please reply
Regards
candy
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monaliza
Full Member
Posts: 22
Ratings: +3
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« Reply #13 on: April 21, 2011, 02:23:45 pm » |
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you do not get taxed on funds that you are transferring to Canada.
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iloveYou!
Star Member
Posts: 149
Ratings: +15
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« Reply #14 on: April 21, 2011, 02:30:16 pm » |
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Seems people got lot of black money.
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