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    bassembarake1
    New Member

    What are the tax implications of receiving money from abroad?

    Purpose of the funds is gift/financial support from parents. Is there any tax implications?
    posted
    ‎October 30, 2019 2:04 AM
    last updated ‎October 30, 2019 2:04 AM
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    Mohammed-TurboTax
    New Member
    New Member

    What are the tax implications of receiving money from abroad?

    No, there isn't. Gift/financial support is not considered taxable income in Canada.

    http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/nttxd-eng.html 

    View solution in original post

    ‎October 30, 2019 2:04 AM
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    Mohammed-TurboTax
    New Member
    New Member

    What are the tax implications of receiving money from abroad?

    No, there isn't. Gift/financial support is not considered taxable income in Canada.

    http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/nttxd-eng.html 

    ‎October 30, 2019 2:04 AM
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    bassembarake1
    New Member

    What are the tax implications of receiving money from abroad?

    Thank you!
    ‎October 30, 2019 2:04 AM
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    CC78
    New Member

    What are the tax implications of receiving money from abroad?

    The link doesn't work anymore, can you please repost the right one. I can't find anything similar on CRA

    ‎March 18, 2021 10:41 AM
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