Landing tips

[Wunderkid]

I am planning to do my soft landing on May 25 and return back to my home country to tie up loose ends.I would like to clarify a few things:

• I plan to take 3k with me. Do I have to declare the amount of money that I will getting into Canada following my landing at a later stage, so that I don't get taxed for this? I may be wrong in this assumption
• Should I declare the properties I own so that I can bring in the proceeds of the sale at a later stage?
• I don't plan to take anything with me besides clothes and personal effects during my landing, so do I have to fill in the custom form stating these items
• I will be filling the BSF 186 for the items to follow. Do I have a certain time period to get these following my landing?

Appreciate any other tips or feedback.

 

[santhkum90]

I am planning to do my soft landing on May 25 and return back to my home country to tie up loose ends.I would like to clarify a few things:

• I plan to take 3k with me. Do I have to declare the amount of money that I will getting into Canada following my landing at a later stage, so that I don't get taxed for this? I may be wrong in this assumption
• Should I declare the properties I own so that I can bring in the proceeds of the sale at a later stage?
• I don't plan to take anything with me besides clothes and personal effects during my landing, so do I have to fill in the custom form stating these items
• I will be filling the BSF 186 for the items to follow. Do I have a certain time period to get these following my landing?

Appreciate any other tips or feedback.

1. You have to declare if you are bringing more than C$ 10,000 at each point of entry. There is no tax for the money that you bring in.
2. If you are bringing the money you get, by selling your properties, you should bring all the proofs for the same at the time of entry. No need to declare your properties elsewhere.
3. You have to fill the customs form, if you are going to bring things in the future, so that they get tax exemptions. If you don't plan to bring anything, then are not required to fill the form for your clothes and personal effects.
4. No, there is no time period.

 

[Wunderkid]

1. You have to declare if you are bringing more than C$ 10,000 at each point of entry. There is no tax for the money that you bring in.
2. If you are bringing the money you get, by selling your properties, you should bring all the proofs for the same at the time of entry. No need to declare your properties elsewhere.
3. You have to fill the customs form, if you are going to bring things in the future, so that they get tax exemptions. If you don't plan to bring anything, then are not required to fill the form for your clothes and personal effects.
4. No, there is no time period.

Thanks @santhkum90 I am planning to get less than CAD 10k at the time of landing but intend to transfer money at a later stage. Can you please explain if this could be potentially taxed? I am not yet going to sell my property that I own but do I have declare at this stage while landing. Eventually I might want to sell it and transfer funds into Canada.

 

[santhkum90]

Thanks @santhkum90 I am planning to get less than CAD 10k at the time of landing but intend to transfer money at a later stage. Can you please explain if this could be potentially taxed? I am not yet going to sell my property that I own but do I have declare at this stage while landing. Eventually I might want to sell it and transfer funds into Canada.

Transferring funds is all online, there is no taxing for that. Declaring more than C$10,000 in cash, is just to make sure you did not obtain it by any illegal means. Online transfer does not give you that chance.

 

[Wunderkid]

Transferring funds is all online, there is no taxing for that. Declaring more than C$10,000 in cash, is just to make sure you did not obtain it by any illegal means. Online transfer does not give you that chance.

Thank you .Will I be able to send large amounts in one go ? For example proceeds from a property sale?

 

[santhkum90]

Thank you .Will I be able to send large amounts in one go ? For example proceeds from a property sale?

You can send how much ever your bank allows you to send in a day.