Fund receiving from parents from outside Canada

[Sukhdev1305]

Hi dear,

Funds receiving from outside from Canada by parents for international student’s bank account. Is this money is taxable or not in Canada.

Regards,

 

[PMM]

Hi

Hi dear,

Funds receiving from outside from Canada by parents for international student’s bank account. Is this money is taxable or not in Canada.

Regards,

1. Not.

 

[Sukhdev1305]

Hi



1. Not.

Thanks for reply dear, there is any specific limit or not

 

[PMM]

Hi

Thanks for reply dear, there is any specific limit or not

1. There is no limit, but banks report transfers of over $10K to Fintrac, to ensure it is not money being laundered.