BukeLuke 發表於 15-6-25 16:20
You only need to declare when doing the 1st tax filing. At the custom, you don't need to declare i ...
OKmom 發表於 15-6-25 17:35
Thx so much for the info & advice! I'm a bit confused.....Do you mean we only have to declare the ca ...
You need to declare the monetary instruments(i.e. cash bank draft, etc) equal to or greater than CAN$10,000.
The tax year for Canada is Jan 1 - Dec 31. All need to do the tax filing by Mar 31 the following year. I suggest you to appoint a tax planner so that he can clear your queries on foreign assets. You should have the value of foreign assets as of the date you landed, such as passport book, bank statement. Bonds, shares, fixed term deposit, MPF, overseas properties etc. also considered as your assets. You can use the spot FX rate to convert to CAD. You should keep the wire receipt as supporting doc in case CRA requests to have it as supporting
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