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Sending Money from Oversea to Canada

finkol

Full Member
May 11, 2017
29
1
hello all,

i came across this forum when i was preparing my spouse sponsoring and gave me comfort that im not the only one who has questions after questions about pr and immigrations information.
i hope experts can help me on this question i have about money transfer.

before here is my status:
- i live overseas
- i am a canadian citizen.
- i worked for six years overseas and have saving.
- all of my earnings are reported in the country i live in.
- to declare non-resident when im working overseas, i cancelled by drivers license and bank account.
- i dont have any assets or any earnings in canada.

I plan to move back to canada next years and started to send my saving to canada.
i sent to my sisters account so far because i dont have an account yet with a bank in canada.

my question is:
- is there limit to how much i can send to my sisters account or any account?
- if there is limit, how much would it be?
- i think i am not required to pay tax on the earning i made overseas to cra since im a non-resident of canada and i have paid taxes on my saving to the oversea country (that i live in) government. do i have this correct?

Thanks a bunch in advance
 

torontosm

Champion Member
Apr 3, 2013
1,677
261
hello all,

i came across this forum when i was preparing my spouse sponsoring and gave me comfort that im not the only one who has questions after questions about pr and immigrations information.
i hope experts can help me on this question i have about money transfer.

before here is my status:
- i live overseas
- i am a canadian citizen.
- i worked for six years overseas and have saving.
- all of my earnings are reported in the country i live in.
- to declare non-resident when im working overseas, i cancelled by drivers license and bank account.
- i dont have any assets or any earnings in canada.

I plan to move back to canada next years and started to send my saving to canada.
i sent to my sisters account so far because i dont have an account yet with a bank in canada.

my question is:
- is there limit to how much i can send to my sisters account or any account?
- if there is limit, how much would it be?
- i think i am not required to pay tax on the earning i made overseas to cra since im a non-resident of canada and i have paid taxes on my saving to the oversea country (that i live in) government. do i have this correct?

Thanks a bunch in advance
- There is no limit on the funds that you can send to Canada
- There are no taxes on bringing in your savings from abroad