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.
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