Tax credit for sending money to family overseas

[LoveCanada007]

Hi,

I realize the tax season is quite far, but I couldn't wait. I looked around the internet and found mixed answers.

Am I eligible to claim tax credit for the money I send to my family in my home country(India)? if yes, is there a limit on how much I can send, or how much I can Claim for the tax credit?

 

[canuck78]

Hi,

I realize the tax season is quite far, but I couldn't wait. I looked around the internet and found mixed answers.

Am I eligible to claim tax credit for the money I send to my family in my home country(India)? if yes, is there a limit on how much I can send, or how much I can Claim for the tax credit?

No credit. You are helping your family. That is personal choice.

 

[torontosm]

Hi,

I realize the tax season is quite far, but I couldn't wait. I looked around the internet and found mixed answers.

Am I eligible to claim tax credit for the money I send to my family in my home country(India)? if yes, is there a limit on how much I can send, or how much I can Claim for the tax credit?

As previously mentioned, there is no tax credit. There is also no limit on the amount you can send. The remittance provider may limit the amount in a single transaction, but the govt. doesn't impose any maximums.

 

[jatt-going-canada]

Why the hell would canadian government give you tax credit for sending money overseas? I dont understand how you even thought of this lol