QUESTION: hi,david
i am immgrant from china,and i brought cash usd7000.00 from china.it does
related to my earning in work.do you think it should be taxed in canada ?
what is the regulation here.can i put it in bank on my acount.
thanks and
best regards
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david ingram replies:
If the money was earned in China BEFORE you came to Canada, it is not
taxable in Canada if it is $7,000, $70,000 or $700,000.
If it is a gift from parents or an inheritance, it is NOT taxable in Canada
no matter when you received it.
If, you performed a service after you came to Canada for someone in China
and this was payment for services rendered after you came to Canada, then
it is earned income and taxable in Canada. This would be true whether you
had your PR (permanent residence) card yet or not if you were here to stay.
For instance, tonight's national news had the story of the Iranian refugee
who was in sanctuary for three years in St Michel's Church in Vancouver. He
was only granted his PR status today. Any money he earned in that three
years for writing, etc., would be taxable in Canada because he was here more
than 183 days with the intention of staying in Canada.
The same would be true for someone who came to Canada Sept or November, etc.
with the intention of staying here and kept on telecommuting with an old
employer in the US, China, Japan, Greece, etc. Even though they were being
paid in their old country, they would be taxable in Canada because they
earned the money after coming to Canada to live even if they were here less
than 183 days in that particular calendar year. The money would be taxable
in Canada even if it was left in the other country because it was earned
from services performed in Canada.
These rules are also the same for persons who have moved to Australia, New
Zealand, the US, etc.
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