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Perhaps someone can help? I will be moving to Canada on a spousal visa in a few months and hope to bring about £50,000 with me. I've got a Canadian bank account set up and can therefore transfer the money over.
What I'm worried about is the tax. Will I be forced to pay any tax on this money I'm bringing in?
Thanks!
I don't think you'll have to pay taxes on this money. You have already paid taxes in UK and you bring them here to settle. The money you will earn in Canada as an income will be taxable.
Bringing money into Canada
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