+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445

When to move funds without exposing myself to taxes?

geranimo

Star Member
Jun 25, 2009
63
3
Hi everyone

I am intending to soft land in Canada in July 2019 and declare all my assets then (Goods to follow assets). I am planning to permanently move to Canada in subsequent year, however, I would be able to move my assets even then because of some reasons. My question is that if i wont be able to bring my assets EVEN in 2nd visit to Canada then would i exposing myself to taxes? i mean to say can i move my assets in fourth or fifth year of landing without paying any tax?

Please advise.

Much appreciated.
 

steaky

VIP Member
Nov 11, 2008
14,297
1,628
Job Offer........
Pre-Assessed..
What assets are you talking? If you are referring to your personal belongings (such as furniture, clothes, toys), just prepare your B4 form, listed your assets in the form, show it to the customs officer when you intend to live in Canada for at least a year, and make sure they stamp the document. As long as the document is not marked as completed, you can bring your assets each time to Canada tax free.

If you are talking about real properties, they will be subject to tax upon you became a tax resident.
 

SoniaJav

Star Member
Sep 19, 2014
138
11
Goods to follow thing is only valid for 1 year. It is the same for finances. Be it from selling a house or business etc. You will be required ti oay taxes on any income you acquire after becoming a PR..which is effective when you complete your landing.