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Sep 01, 2020 8:24 pm
Hi,
I have to receive inheritance money from India. What is the best way to get it here? Can i receive it as a gift deed from my brother or should i show as inheritance? what is the limit that we can receive?
Thank you,
1 Reply
Sep 02, 2020 7:48 pm
You do not have to pay Canadian income tax on the value of a foreign inheritance that you receive. You may need to complete Form T1135, foreign income verification statement, to report your foreign inheritance, if the cost amount is more than $100,000 CAD.