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New Member
posted Oct 29, 2019 11:45:28 PM

I'm Canadian living in Korea. I'm returning to Canada for a job. My wife will come a few months later with our money. Will that be tax free, or taxed from time I arrived?

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New Member
Oct 29, 2019 11:45:30 PM

You don't say whether you intend to remain in Canada for the duration.  Canada taxes on residency, so they may have to determine your residency status based on your intentions.  Normally, any cash is considered part of your personal effects  when moving into Canada.  Any interest earned in Canada on that money will be taxable.  You need to discuss some of the issues with Canada Revenue. 1-800-959-8281

1 Replies
New Member
Oct 29, 2019 11:45:30 PM

You don't say whether you intend to remain in Canada for the duration.  Canada taxes on residency, so they may have to determine your residency status based on your intentions.  Normally, any cash is considered part of your personal effects  when moving into Canada.  Any interest earned in Canada on that money will be taxable.  You need to discuss some of the issues with Canada Revenue. 1-800-959-8281