Guide to Tax Declaration of Overseas Assets of Canadian Immigrants

# Canadian Immigrants # Introduction How do new immigrants declare and transfer overseas assets after their first arrival in Canada? This has always been the focus of Canadian immigrants. After immigrating to Canada, correctly and timely filing tax returns is the premise of successfully opening a new chapter in overseas life and work. The following is an unorganized guide for Canadian immigrants to declare their overseas assets. Welcome to read!

Guide to Tax Declaration of Overseas Assets of Canadian Immigrants

1. What kind of assets can be transferred in safely? Tax residents in Canada have the obligation to pay taxes to the Canadian government from the day they land. Canada does not tax assets, only income. If it can be proved that the transferred money comes from the following three sources, the assets will be safe:

Assets existing before immigrating to Canada;

Assets acquired after immigration but taxed;

Assets or inheritance given by parents and others.

2. When is the best time to transfer assets?

One or two years before the new immigrants landed, the Canadian Taxation Bureau knew that new immigrants needed to transfer funds to settle down and buy a house. At this time, the supervision of capital transfer is relatively loose.

3. What is an appropriate income report?

Truthful declaration is the least risky. The tax accountant's suggestion is that your declared annual income should at least cover your family's daily living expenses after tax payment. If the long-term income and expenditure are seriously upside down, it may attract the attention of the tax bureau.

4. How will the Inland Revenue Department check the tax?

In Canada, taxpayers file tax returns voluntarily, so the tax bureau will not take the initiative to go to China to check taxes or ask China to provide assets under someone's name. If they have doubts about a place, they will also ask taxpayers to provide evidence or explanations. If you hide your assets in China or fail to declare your income after immigrating to Canada, as long as you never transfer these assets, the Canadian Taxation Bureau will generally not find out.

5. Is it okay that the assets declared at the time of immigration are different from those declared at the time of tax return?

It is normal that there is a big gap between the assets declared to the immigration bureau when applying for immigration and the assets declared to the tax bureau after landing. There are several years in between, and it is normal for your assets to change. The tax bureau and the immigration bureau generally perform their respective duties. As long as the assets declared to the tax bureau at that time are true, the tax bureau will not pursue them even if they are more than when applying for immigration. Generally speaking, the assets declared when you immigrate are also declared when you declare overseas assets to the tax bureau.

Questions and answers about immigration to Canada

1. Will new immigrants cancel their accounts when they leave China? In the past two years, I haven't heard that new immigrants asked about canceling their accounts when they left China. However, some friends canceled in advance to avoid trouble. If you don't need it, be prepared. If you are not allowed to leave the country, go back and cancel. So, leave some room for yourself and don't get stuck in the last few days of the validity of the immigration paper.

2. What format should I write when the goods declared by Canada enter the customs?

Make a list, indicate the product name and brand, and copy it into a special form at Canadian Customs. Preparing in advance can greatly reduce the delay time at customs when entering the country. But if you are not ready, you can go to the customs within 14 days after entry.

3. What daily necessities should I bring to Vancouver?

Clothes: There are two main seasons in Vancouver: April -65438+ 10. The climate is very good, not hot, sunny, and the temperature rarely exceeds 30 degrees. 10- April is rainy, but it is rainy, which means it is not too cold, and the temperature occasionally drops below zero. Wear a ski suit (down jacket) in winter and add a sweater at most; Jeans and a pair of cotton trousers are enough for the winter.

Bedding: Soft mattresses are used here, so you usually don't need mattresses, just sheets, quilts and pillows.

Daily necessities: It is more expensive to buy daily necessities here than in China, so it is better to bring some basic personal necessities.

Drugs are expensive, so it is wise to bring some commonly used drugs such as bezoar and isatis root.

You don't need to bring electrical appliances, because the voltage is different, and here it is 1 10V.

Cooking utensils are also expensive, so a pot, a frying spoon and a simple bowl can meet the needs at first, and then gradually add them later.

Books: Don't forget to bring a dictionary and reference books you may use.

4. If the amount of dollars you carry is less than half of the amount when you apply, will there be any problem when you go through Canadian customs?

If you can't find a job temporarily, how long can 5000 dollars last? Because insufficient resettlement fee means that you may receive social assistance soon, which is not in line with the principle of skilled migration, so the immigration officer may not let you enter the country. In the past, immigration officials in Toronto would calculate the resettlement fees for new immigrants, but Vancouver would not. Vancouver sometimes counts recently. For a person, scrimping and saving, but maintaining a life that is not too bad, 5000 dollars can support you 10- 12 months.

5. What are the necessary preparations for going to Canada at home?

The urgent task is to practice the language well. If the language is not good, the boss finds it difficult to deal with you, and even the employment agency doesn't care about you. Besides, if you get a driver's license in China, you can use it when you come. Otherwise, you can't drive alone here for a long time, which is very inconvenient.

Further reading: the process of handling investment immigration in Quebec, Canada

Quebec investment immigration project in Canada, as an old Canadian immigration project, has become a popular one among Canadian immigration projects because of its simple application conditions and high cost performance.

Since the opening of 1986 in Quebec, Canadian investment immigrants have been welcomed by many applicants, especially China investors, because of their advantages of getting maple leaf cards in one step, government guarantee, safe and reliable investment and flexible investment methods. Among the numerous applicants every year, China applicants account for more than 90%.

Make an accurate self-assessment and make a reasonable plan.

Applicants should make full use of the relevant provisions of the immigration law according to their own background and situation, and make full use of their own conditions to formulate immigration plans. Determining the application direction is the most basic key step for your success. Otherwise, rushing into battle and inadequate preparation may directly lead to the failure of your application.

Quebec's investment immigration is more flexible and the evaluation criteria are more complicated, so if you don't know enough about Quebec's immigration policy, I suggest you find a professional immigration company to evaluate and analyze it for you. At present, time is pressing, so applicants must contact the immigration company as soon as possible and strive to submit their applications as soon as possible.

Second, pay attention to the dynamics of the Canadian embassy.

When you send the application materials, you begin a long waiting process. In this process, you may not have to do anything, and you will soon receive the medical examination form and get the visa. It may also go through supplementary materials, immigration interviews and other links. The quality of these jobs is directly related to the result of your application. Paying close attention to the application progress of peers in time is also very helpful to grasp their own status.

Third, study hard the local language.

Quebec's investment immigration threshold is not high, and there is no mandatory requirement for language. However, in previous cases, the success rate of applicants who have mastered French or English will be greatly improved. In addition, if the applicant reaches the intermediate level of French, he will not be limited by the quota of 1330, and can submit an application at any time. In the application process, if you have a beautiful language report card, it will sometimes give you unexpected help. And as long as you learn English or French well, you can enjoy the local life better after landing in Canada.

Fourth, prepare complete and high-quality application materials.

In the process of applying for an investment immigration program in Quebec, Canada, the applicant needs to make it clear that the visa officer doesn't know you and can't tell the difference between true and false. Only when the applicant produces evidence can he be strongly persuaded. Therefore, the quality of the application materials directly affects the success or failure of the application. A set of high-quality immigration application materials should not only reflect the applicant's good professional skills and excellent comprehensive quality, but also meet the basic requirements of the immigration bureau. To get rid of the false, big and empty phenomena in the application documents, the authenticity of the documents is very important! The visa officer will only approve the application for investment immigration in Quebec, Canada after evaluating that the applicant is telling the truth.

5. Be fully prepared before the interview.

Before interviewing investment immigrants in Quebec, Canada, we must make all preparations to avoid incomplete information and affect the interview process and the interviewer's impression. In addition, experts believe that it is worth reminding investors that visa officers do not have the same legal quality as judges and will judge the applicant's situation by subjective consciousness. If the interview needs to be rescheduled due to the negligence of the applicant, it may have an impact on the immigration progress.