Receiving foreign money from non resident.

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Baldy
Member since: Mar 14

Posts: 3
Location:
Post ID: #PID

Posted on: 05-03-14 18:57:49

I married a Canadian, bought a condo. Whilst outside Canada sent money to my non resident account and transferred it to hers to pay off condo, expenses and for when we were to settle in Canada.

She too was outside the country and filed as a non resident for the fed but just filled out the provincial returns as a resident... Now they sent a questionaire.

I am now a PR but have the feeling I have performed this action in the wrong order? Will a simply explanation be enough?

Please advise...

Thanks

Full House
Member since: Oct 12

Posts: 2677
Location:
Post ID: #PID

Posted on: 06-03-14 03:08:38

Quote:
Originally posted by Baldy

I married a Canadian, bought a condo. Whilst outside Canada sent money to my non resident account and transferred it to hers to pay off condo, expenses and for when we were to settle in Canada.

She too was outside the country and filed as a non resident for the fed but just filled out the provincial returns as a resident... Now they sent a questionaire.

I am now a PR but have the feeling I have performed this action in the wrong order? Will a simply explanation be enough?

Please advise...

Thanks

-------

In Canada, there are NO restrictions in bringing in any amount of money into Canada, through the legal Banking Channels. But any amount over $10,000.00 attracts attention and you are flagged. (Fintrack)

Was the CANADIAN a resident or NON Resident for tax purposes? A non resident, when s/he buys a property within Canada, becomes a resident automatically. So when she files a tax return, you got to be a resident in both the sides... Federal and Provincial. You cannot pick and choose and have it your way. It is like wanting to eat the cake and have it too.! That is a NO-NO. These darn computers pick it up easily.

To be a PR you have to land here and get it. So, you are here. There are no problems as regards the Money sent in or with the purchase of the property. And there are no problems with the Tax return also, it will need a correction and go to any tax preparer pay 30/50 bucks and get it rectified. Tell the tax preparer the CORRECT story and make the required corrections.

You, as a Non Immigrant who sent the money in to buy the property, don't have to pay any taxes on the remittance.

FH.

I had to get into your brain to see it.

Baldy
Member since: Mar 14

Posts: 3
Location:
Post ID: #PID

Posted on: 05-06-14 14:43:16

Thank you for your speedy reply! Once they could see that the money was sent from an overseas account in my name they were fine and have closed the file.

Cheers

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Receiving foreign money from non resident.

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