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cmanyam
Member since: Aug 04

Posts: 295
Location: TORONTO
Post ID: #PID

Posted on: 03-06-07 03:28:30

I landed in Toronto april-2007 and came back to UAE after 15 days.

I got Sin number , PR card also opened a bank account and Driving license.

I will be comming back to canada in 2008 some time.

When i landed i brought initial CIC required money(16000 CAD) with me.

Curruntly i have some money with me in UAE. I want to transfer that money in to my canadian bank account, do i need to pay any tax on that money in future.

plese reply me with tax implications.

cmanyam

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Hi to all...

dp_jain
Member since: Jan 04

Posts: 418
Location: Brampton
Post ID: #PID

Posted on: 03-06-07 08:45:30

Hi

Did you not receive my reply mail?

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Live and Let Live. Together we can make a difference.

DP JAIN, CPA, CGA, CPA (US), CA(I), LL.B.(I)
416-305-0080
(Loans, Mortgage, Tax, Accounting, Investments)

chandresh
Member since: Mar 03

Posts: 2606
Location: Toronto
Post ID: #PID

Posted on: 04-06-07 07:06:51

Quote:
Originally posted by cmanyam

Curruntly i have some money with me in UAE. I want to transfer that money in to my canadian bank account, do i need to pay any tax on that money in future.

plese reply me with tax implications.

cmanyam

If the funds you are remiting are from your savings before you "Landed" in Canada, there is no tax implications.

However, whatever you are earning now, is theoratically taxable in Canada.

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Chandresh

Advice is free – lessons I charge for!!

Dharma
Member since: Aug 06

Posts: 109
Location: Toronto
Post ID: #PID

Posted on: 06-06-07 01:43:46

Dear Cmanyam,

How are you ?? welcome back, i need some info from you can you call me on 0508518113 or else give me your number i will call you

Regds
Dharmesh
Dubai

++++++++++++++++++++++++++++++

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dharmesh

cmanyam
Member since: Aug 04

Posts: 295
Location: TORONTO
Post ID: #PID

Posted on: 06-06-07 01:59:43

Hi chandresh

Thanks for your reply.

I need to prove that money is from my savings before landing... intresting...

Hi Jain

No mails from you up to now....

you can reply me to cmanyam AT hotmail

hi Dharma

you can call me on my mobile 0506916370 any time,....

thanks
cmanyam

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Hi to all...

chandresh
Member since: Mar 03

Posts: 2606
Location: Toronto
Post ID: #PID

Posted on: 06-06-07 08:11:03

Quote:
Originally posted by cmanyam

Hi chandresh

Thanks for your reply.

I need to prove that money is from my savings before landing... intresting...

cmanyam

Well cmanyam - I think you misunderstood my statement. I never said you have to prove...........proof is required only when there is a question from the CRA (income tax office). I have only given the theoratical part - so that you can plan accordinly.

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Chandresh

Advice is free – lessons I charge for!!

cmanyam
Member since: Aug 04

Posts: 295
Location: TORONTO
Post ID: #PID

Posted on: 06-06-07 08:18:56

Hi chandresh

I apriciate your responce.

I did understand what you wrote, only the thing i need to prove them if they rise that issue...

once again thanks for reply...

cmanyam

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Hi to all...

Contributors: cmanyam(5) dp_jain(2) chandresh(2) Dharma(1) newkidontheblock(1)

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