Gifts are not taxable in Canada and don't need to be included on your return. However, if you have the money in a foreign bank account, and it was more than $100,000 CAD, you might need to report it on a T1135 – Foreign Income Verification Statement.
Gifts are not taxable in Canada and don't need to be included on your return. However, if you have the money in a foreign bank account, and it was more than $100,000 CAD, you might need to report it on a T1135 – Foreign Income Verification Statement.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.
Sign In
Canada (English)
EN
