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Are settlement funds taxed?
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pkvenky Posts: 1
Posted On: 7/3/2020
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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 Posts: 661
Posted On: 7/4/2020
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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 Posts: 4142
Posted On: 7/15/2020
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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 Posts: 4142
Posted On: 7/15/2020
|
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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