Dear All,
First of all, Happy Easter to all of you celebrating!
I visited Canada only ONCE and that was in April 2017 as part of my Manitoba Business immigration, at which time I opened a bank account with an international bank giving my lawyer's address and was provided few months ago with a credit card as well. (Being a preferred client worldwide for that bank)
I am yet to become a PR holder (hopefully my visa should be issued this year, completed my medical in Feb of this year).
Now, I have been reading some threads about taxation, and that got me worried, having an account and a credit card, as well as having over CAD 50,000 in the bank account, generating no income from interest however.
My question to you, does that impact me from taxation point of view in any way?
Also, once I do a soft landing, how will the above impact me? Should i withdraw my money and close my bank account?
Thank you.
First of all, Happy Easter to all of you celebrating!
I visited Canada only ONCE and that was in April 2017 as part of my Manitoba Business immigration, at which time I opened a bank account with an international bank giving my lawyer's address and was provided few months ago with a credit card as well. (Being a preferred client worldwide for that bank)
I am yet to become a PR holder (hopefully my visa should be issued this year, completed my medical in Feb of this year).
Now, I have been reading some threads about taxation, and that got me worried, having an account and a credit card, as well as having over CAD 50,000 in the bank account, generating no income from interest however.
My question to you, does that impact me from taxation point of view in any way?
Also, once I do a soft landing, how will the above impact me? Should i withdraw my money and close my bank account?
Thank you.