Hi to everyone ,
I'm an Italian citizen and I'm thinking to immigrate to Canada . I have some concerns about taxations and so I read a lot in the Internet and I looked for advise here in Italy by some lawyers but I didn't get lucky, so I hope maybe some of you might have the answers to my questions.
I own some forest here in Italy and I have a cospiquous bank account in Italy due to some donations from my family and an inheritance . Looking at the tax regulations in Canada I have the doubt that I'll have to pay the tax of capital gains on the forests if I sell them or in the case I have to leave Canada after being a resident for more then 60 months ,someone told me that it is not so because forests have not this treatement in taxation in but I really don't know.
About the money wich is in part in a bank account and in part in Italian state titles I was wondering if the gain that can arise from fluctuation in the change Euro-Canadian Dollar may be countet also as a capital gain and taxed.
I hope someone can give me some good information .
I thank all of you in advance
I'm an Italian citizen and I'm thinking to immigrate to Canada . I have some concerns about taxations and so I read a lot in the Internet and I looked for advise here in Italy by some lawyers but I didn't get lucky, so I hope maybe some of you might have the answers to my questions.
I own some forest here in Italy and I have a cospiquous bank account in Italy due to some donations from my family and an inheritance . Looking at the tax regulations in Canada I have the doubt that I'll have to pay the tax of capital gains on the forests if I sell them or in the case I have to leave Canada after being a resident for more then 60 months ,someone told me that it is not so because forests have not this treatement in taxation in but I really don't know.
About the money wich is in part in a bank account and in part in Italian state titles I was wondering if the gain that can arise from fluctuation in the change Euro-Canadian Dollar may be countet also as a capital gain and taxed.
I hope someone can give me some good information .
I thank all of you in advance