Gift Deed Transfer From Parents Account In India To Canada

Question

1968 viewsJuly 10, 2019Accounting

0

Aisha (anonymous) Posted July 9, 2019

is there any money limit? is 40k CAD considered okay as gift?

score 0 · Answer 1 · 2019-07-10T14:38:14+00:00

There is no monetary limit from a tax perspective. A gift of $40,000 made to you by your parents will not be taxable to you.

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