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iodinedr012

Newbie
May 21, 2014
9
0
Hi,
I have a Canadian citizenship (Canadian passport holder). I have lived oversea for almost 20 years and I am now moving back to Canada with my family.
I have some questions moving back to Canada. I tried to research it online but no too many information is available.

1. Do I have to report to CRA about profit from the property I sold in oversea before moving back to Canada? I guess I don't need to report any income from oversea before I moving back to Canada?
2. I will have money sending to Canada from oversea. Do I need to do anything?
3. I will have some personal goods mostly Clothes shipped through sea and will arrive after I move back. I guess I have fill the B4e form and follow the rules from the Memorandum D2-3-2. So that I dont have to pay tariff on it.
4. What else important that I need to know?

Thank you so much for any information.
 
1. Technically you are obligated to report all international income to CRA. But if Canada has tax treaty with your country, there are foreign tax credits so you may not owe them tax. It might be beneficial to hire an account to handle this

Some relevant info
http://www.cra-arc.gc.ca/tx/nnrsdnts/ndvdls/nnrs-eng.html
https://turbotax.intuit.ca/tips/declaring-foreign-property-on-your-tax-return-6217

2. No. Canada does not tax you for bringing money in