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Are settlement funds taxed? 

pkvenky
pkvenky
Posts: 1


Posted On: 7/3/2020
pkvenky
pkvenky
Posts: 1
I made my first entry in September 2019 under spousal sponsorship category, obtained my PR card, opened a bank account and left Canada the following month as I am working abroad. I plan to move permanently to Canada later this year. I want to know if the settlement funds I will be bringing along with me will be taxed.
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PMM
PMM
Posts: 595


Posted On: 7/4/2020
PMM
PMM
Posts: 595
Hi


pkvenky wrote:
I made my first entry in September 2019 under spousal sponsorship category, obtained my PR card, opened a bank account and left Canada the following month as I am working abroad. I plan to move permanently to Canada later this year. I want to know if the settlement funds I will be bringing along with me will be taxed.


1. No.
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Moderator
Moderator
Moderator
Posts: 3261


Posted On: 23 days ago
Moderator
Moderator
Moderator
Posts: 3261
Hello There,

Thank you for sharing your situation and question with us.

In addition to PMM’s response, you may find helpful information in the Settlement.Org articles How do I bring money into Canada (proof of funds)? and I am immigrating to Canada. How do I bring my belongings with me?.

We hope this information is helpful. If you have any additional questions, please feel free to post them here.


Sincerely,

Your Settlement.Org Team
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Moderator
Moderator
Moderator
Posts: 3261


Posted On: 23 days ago
Moderator
Moderator
Moderator
Posts: 3261
Hello There,

Thank you for sharing your situation and question with us.

In addition to PMM’s response, you may find helpful information in the Settlement.Org articles How do I bring money into Canada (proof of funds)? and I am immigrating to Canada. How do I bring my belongings with me?.

We hope this information is helpful. If you have any additional questions, please feel free to post them here.


Sincerely,

Your Settlement.Org Team
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