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I sold my house in Ukraine, how can I transfer the money to Canada?

I sold my house in Ukraine, how can I transfer the money to Canada?

Old Jan 27th 2001, 1:13 pm
  #1  
infocanada2000
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Hi everyone,

I immigrated to Canada from Ukraine last December. After landing in Toronto, I went back
to Ukraine and sold my house. I am still in Ukraine and will come back to Toronto next
week. Here is my question:

Do I need to inform the Canadian Revenue Office that I sold my house and bringing the
money to Canada, and do I need to fill any special form for the money transfer? If I
transfer the money directly to my Canadian bank account will it be taxable?

Thank you for your comments.

Alex.
 
Old Jan 29th 2001, 2:35 am
  #2  
Alex Levitsky
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In article <[email protected]>, [email protected] wrote:
> Hi everyone,
>
> I immigrated to Canada from Ukraine last December. After landing in Toronto, I went back
> to Ukraine and sold my house. I am still in
Ukraine
> and will come back to Toronto next week. Here is my question:
>
> Do I need to inform the Canadian Revenue Office that I sold my house and bringing the
> money to Canada, and do I need to fill any special form for the money transfer? If I
> transfer the money directly to my Canadian bank account will it be taxable?
>
> Thank you for your comments.
>
> Alex.

Proceeds of the sale of your real estate in Ukraine are not taxable in Canada. These funds
are not part of your income as a Canadian permanent resident and taxpayer.

Answers from Canadian taxation experts can be obtained from Usenet newsgroup can.taxes.

You can contact the customer service department of your Canadian bank through the Internet
to find out what special paperwork may be required for the transfer of a large amount of
money. Normally, you would simply transfer the money to your Canadian bank account without
declaring the amount as income on your annual Canadian tax return.

--
Alex Levitsky [email protected] Toronto Ontario Canada
 

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