mmh93 said:
What you said was ' asset-liability=settlement fund' ;which may be correct only when you do not have any other form of asset e.g agriculture land, house property etc. In tax return form asset is generally all inclusive and it is usually higher than what immigration mean by unencumbered fund.
An example:
Cash at bank: BDT 2000k, Shares in mkt: BDT 200k, Land Property: BDT 4000k, Jewellery: BDT 800k, Liab: BDT 0.00
Please show us what to show in Economic Class form:
Section no:
a) Assets & C) Settlement Funds
For our convenience, CIC instructs the matters as follows:
a) Assets
Indicate the total amount (in Canadian dollars) of unencumbered, transferable and available funds in your bank accounts, pensions, etc.
b) Liabilities
Indicate the total amount (in Canadian dollars) of real property mortgages and any other personal debts.
c) Total funds available for settlement in Canada
With consideration to your total assets and liabilities, indicate the total amount (in Canadian dollars) of unencumbered, transferable and available funds that you have for settlement in Canada.
Source: http://www.cic.gc.ca/english/information/applications/guides/EG7TOC.asp#eg74
A few points for your info
Acceptable proof of funds are:
-bank accounts in your name or the name of your accompanying spouse/common-law partner;
-cashable investments in your name or the name of your accompanying spouse/common-law partner;
-cashable fixed deposits in your name of the name of your accompanying spouse/common-law partner.
Not acceptable are:
-bank accounts in someone else's name;
-bank accounts which are joint in your name and someone else (other than your accompanying spouse/common-law partner);
-bank accounts in the name of your spouse who is not accompanying you to Canada ;
-property valuations;
-vehicle valuations;
-jewellery valuations.
BR
deba_avik
