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I found all the answers by looking up foreign assets as you suggested. I also read through the CRA website. This is what I understood: They don't need to report foreign assets fo the first year they are here as well as - only need to report it when/if they sell it and make money or lose money...

Thank you folks. Unless he works for a Canadian shipping company that time will be counted as outside. Got it.

Thank you! So when they arrive here the first time they declare only the money they bring in cash with them? If they plan to wire the money to themselves a year later, they don't need to do anything other than to declare it in their tax return that year? Is there a section where you declare...

Do you know if there is any information on this on GIC? I struggle to find any. This situation may be an exception because you don't work or live or travel in any other country?... He is planning to pay income tax here on the money earned while on the ship, etc.. Mom is going to be here in...

My parents are coming to Canada as PR this spring. They already have a house here, close by to me but they are also keeping 2 of their condos back home. My grandmother is still living, so they will have to go back every 2-3 months to look after her etc... I know that when you first come to...

Hi there...I was hoping someone here knew how to count days outside of Canada as it relates to PR status. I am Canadian citizen and my father has finally received his status and coming here this spring. My father has already purchased a house near by so he owns the property/has ties to Canada...