加拿大理財討論區
馬上風
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如果IBHK account transfer去IBCA又點計？
keep all documents for eight years.
多謝CNTower uncle 提醒☺️☺️
you are welcome. put them in your tax files and write down the detail reasons for such transactions.
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Your bank MUST report International transfer over $10,000 to FINTRAC
https://www.finder.com/ca/international-money-transfers/taxes-regulations-on-large-money-transfers-to-canada#:~:text=Any%20transfer%20over%20%2410%2C000%20CAD,of%20the%20amount%20being%20received.
Any transfer over $10,000 CAD needs to be reported to FINTRAC, but that responsibility generally falls on banks and money transfer companies, not individuals. Financial institutions may also report any transactions deemed suspicious, regardless of the amount being received.
Is dealing with the CRA a hassle when transferring large amounts?
If you follow the law and submit any required legal documentation timely and accurately, you shouldn’t experience hassles with the CRA.
Although many types of transfers don’t count as taxable income, some transfers might – for example, if you’re receiving money related to income-producing activities outside of Canada.
If you don’t report taxable income, you may be on the hook for stiff penalties including a percentage of the income you failed to report (possibly around 10-50% of that income) plus an additional percentage for every month you avoided paying taxes (possibly around 1-2% of that income). Speak with a Canadian tax professional to find out exactly what tax rules apply to you
.
Your bank MUST report International transfer over $10,000 to FINTRAC
https://www.finder.com/ca/international-money-transfers/taxes-regulations-on-large-money-transfers-to-canada#:~:text=Any%20transfer%20over%20%2410%2C000%20CAD,of%20the%20amount%20being%20received.
Any transfer over $10,000 CAD needs to be reported to FINTRAC, but that responsibility generally falls on banks and money transfer companies, not individuals. Financial institutions may also report any transactions deemed suspicious, regardless of the amount being received.
Is dealing with the CRA a hassle when transferring large amounts?
If you follow the law and submit any required legal documentation timely and accurately, you shouldn’t experience hassles with the CRA.
Although many types of transfers don’t count as taxable income, some transfers might – for example, if you’re receiving money related to income-producing activities outside of Canada.
If you don’t report taxable income, you may be on the hook for stiff penalties including a percentage of the income you failed to report (possibly around 10-50% of that income) plus an additional percentage for every month you avoided paying taxes (possibly around 1-2% of that income). Speak with a Canadian tax professional to find out exactly what tax rules apply to you
Self employed點樣扣餐飲？即係係屋企煮飯叫外賣都可以扣稅？
我應該下個月搵報稅公司報稅。係咪話比佢聽，同埋比個transaction record (例如statement）佢就足夠？
What was the transfer about didn't catch that part.
It was an account transfer from Interactive Brokers HK to Interactive Canada -- different entities, i believe. All cash, no investment.
I have also transferred CAD 10,000+ cash from bank account from HK to Canada, all under my name.
I have also transferred CAD 10,000+ cash from bank account from HK to Canada, all under my name.
when did you enter Canada?
Do you have foreign assets over CDN$100,000?
Do you have foreign assets over CDN$100,000?
you don't have to file T1135 for 2023.
If you sold any shares, properties etc. after you entered Canada, you have to report gain/loss.
If you have any interest, rental dividend after you entered Canada, you have to report them.
For money transferred from HK, you don't have to provide details to your accountant when filing T1. Just keep all records in case CRA asks you for them.
If you sold any shares, properties etc. after you entered Canada, you have to report gain/loss.
If you have any interest, rental dividend after you entered Canada, you have to report them.
For money transferred from HK, you don't have to provide details to your accountant when filing T1. Just keep all records in case CRA asks you for them.
Understood, thanks uncle! 🥰🙇♂️
Do you have MPF?
Yes, received after date of entry
The MPF is TAXABLE in Canada.
You must roll them into an RRSP on or before FEB 29, 2024 to avoid the tax.
Have you done that? If not, you MUST do that tomorrow.
https://www.sunlifeglobalinvestments.com/en/insights/investor-education/tax-and-estate-planning/transfer-of-a-foreign-retirement-plan-into-a-Canadian-rrsp-tax-rules-to-consider/
You must roll them into an RRSP on or before FEB 29, 2024 to avoid the tax.
Have you done that? If not, you MUST do that tomorrow.
https://www.sunlifeglobalinvestments.com/en/insights/investor-education/tax-and-estate-planning/transfer-of-a-foreign-retirement-plan-into-a-Canadian-rrsp-tax-rules-to-consider/
I know that, but I prefer not to put it into an RRSP
That's up to you. The full amount will be taxable in 2023.
想問各位prefer用tfsa定rrsp買stocks?
最近有新工返想拎少少錢放入去做下投資
上網做咗research睇到有人話rrsp好過tfsa
如果我主要買美國股票係唔係都係rrsp好啲？
最近有新工返想拎少少錢放入去做下投資
上網做咗research睇到有人話rrsp好過tfsa
如果我主要買美國股票係唔係都係rrsp好啲？
Thanks uncle for your reminders 