How to bring Funds to Canada

[Marata]

Dear Seniors ,
May I get an answer for my question that I can't find info about it.

When PR holder decides to return to Canada permanently after 2 years of Landing, if carrying over 10k , is this money taxable ? OR in other way how can I bring my saving from home to Canada?

Thanks

 

[wilson]

Dear Seniors ,
May I get an answer for my question that I can't find info about it.

When PR holder decides to return to Canada permanently after 2 years of Landing, if carrying over 10k , is this money taxable ? OR in other way how can I bring my saving from home to Canada?

Thanks

Settlement funds of a PR, transferred to Canada from out side country is not taxable. If any income derived from such funds invested in Canada could be taxable according to the rules applicable time to time. The funds can be transferred to a bank according to your choice.

 

[Marata]

Dear Wilson

Thank you for your reply.
Money will be in Demand Draft Format upon moving for good, as for time being I have no ties in Canada including bank account.
So the right way to do it is to declare amount at the airport and use the DD for account opening, right?

Regarding Driving license Can I use International driving license until I get local one when moving, or this option is only valid when you do your first landing?

Thanks again

 

[msaeed]

Dear Seniors ,
May I get an answer for my question that I can't find info about it.

When PR holder decides to return to Canada permanently after 2 years of Landing, if carrying over 10k , is this money taxable ? OR in other way how can I bring my saving from home to Canada?

Thanks

Sir

Contact Tax Lawyer / Department in Canada , their advice is Full & Final , rest is shooting in dark