Canadian PR

[kingrant]

Cancelling the existing backlogs eliminate alot of immigrants from Asia. Now, the focus is on white immigrants from Ireland, UK and Europe. The rules are changed to favour immigrants from Europe.
Whenever a Conservative government takes power, you can expect the door to Asian immigrants to tighten.

I dont think so. i think more like targetting those from Muslim countries.

 

[kingrant]

I dont think so. More targeted against those from Muslim countries in Europe and ME.

 

[neddy]

I dont think so. More targeted against those from Muslim countries in Europe and ME.

Muslims are problematic everywhere.


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[bnmiura]

Does anyone know if CPF needs to be declared in the T1135 ? Is it considered a superannuation trust by a non-resident
trust entity ? Does interest earned in the CPF need to be declared as part of income earned (of course cannot be taken out)?

 

[jerry]

Does anyone know if CPF needs to be declared in the T1135 ? Is it considered a superannuation trust by a non-resident
trust entity ? Does interest earned in the CPF need to be declared as part of income earned (of course cannot be taken out)?

No need to declare CPF or anything Singapore government related in T1135.

Think about it, while in Singapore, if Singapore's IRAS didn't tax you on anything related to CPF, why should Canada be taxing you?

 

[Hock]

No need to declare CPF or anything Singapore government related in T1135.

Think about it, while in Singapore, if Singapore's IRAS didn't tax you on anything related to CPF, why should Canada be taxing you?

What about receiving one lump sum after renouncing S'pore citizenship?

 

[jerry]

What about receiving one lump sum after renouncing S'pore citizenship?

Firstly, CRA will not know. So that should not be an issue. You just make arrangements with your bank to transfer the money over. You can break it up into parts if the amount is extremely large. If for some reason they find out and ask, say the money is:

1. Gift from parents/siblings/family
2. Inheritance
3. Winnings from public/private lottery in Singapore
4. Winnings from Casino in Singapore
5. Sale of jewellery, works of art, rare books, stamps, and coins, etc.
6. Disposal of any other personal property
7. etc.

Transfering CPF lump sum over is a once in life time event and is not a big deal, will not get the government's attention.

 

[jerry]

There is a discussion previously on the lump sum topic. You don't have to file HDB/CPF in T1135.

So when you sell your HDB, you get a lump sum in CPF which you would ask your bank to transfer over. The origin of this lump sum is personal use property.

Note that part that said 'You do not have to report information about property held for personal use.'.

Do you have to file this statement?

Canadian resident individuals, corporations, and trusts, as well as
partnerships, who held certain property outside Canada with a total cost
amount of more than $100,000 at any time in the tax year, have to file Form
T1135, Foreign Income Verification Statement.

Non-resident discretionary trusts, as defined under section 94 of the Act,
may also have to file this statement.

As an individual (other than a trust) you do not have to file this statement
for the year in which you first become a resident of Canada.

You do not have to report information about property held for personal use.
This includes vacation property used by you primarily as a personal
residence, as well as listed personal property such as works of art,
jewellery, rare folios, rare manuscripts, rare books, stamps, and coins. See
the latest version of Interpretation Bulletin IT-332, Personal-Use Property,
for more details about personal property. You also do not have to report
property used or held by you exclusively in an active business.

 

[bnmiura]

I checked with my accountant here in Vancouver and she has no clue. Say I should confirm with CRA which may be tricky. The reason I have doubts is that in the case of the US, the interest earned in the CPF is taxable even if you cannot take it out. If the CPF interest is taxed by the spore govt then if there is a tax treaty between the countries then there is no double tax. I want to know has anyone transferred one large lump sum of $ or confirmed with the CRA if the CPF need not be declared.

 

[jerry]

I checked with my accountant here in Vancouver and she has no clue. Say I should confirm with CRA which may be tricky. The reason I have doubts is that in the case of the US, the interest earned in the CPF is taxable even if you cannot take it out. If the CPF interest is taxed by the spore govt then if there is a tax treaty between the countries then there is no double tax. I want to know has anyone transferred one large lump sum of $ or confirmed with the CRA if the CPF need not be declared.

Hah a true bred Singaporean... I think you are going for overkill. Cannot compare with USA. The laws in Canada are different. You do not need declare HDB or CPF or CPF interest or any other property held for personal use. Thousands of Singaporeans have transferred their lump sum of between $700,000 to $1,800,000 to Canada without any problems. I can't see why you cannot do so.

I have personally transferred my lump sum of over $1M to Canada in 5 transfers. The reason why I made multiple transfers is to wait for the best exchange rates to transfer. It is real painful to see your money lost because of exchange rates and when exchange rates is high.

 

[chuckyworld]

What about receiving one lump sum after renouncing S'pore citizenship?

Just split into a few transfers, to your sons and daughters, first banking it into your sibling bank account 1 which you can trust and do the transfer from there, take a lot of headache off.

the next thing is have an off shore account you still have your SG bank account,

 

[tate]

No need to report CPF or CPF interest. CRA not interested in the average Canadian retirement funds like CPF. They are interested in you only if you are money laundering etc. Just make arrangements with your Singapore bank to transfer over to your Canadian bank account. Split up the transfers if you like.

 

[JohnDoe]

Quick Question. I'm moving to Calgary. Appreciate if Seniors can advise which are the good areas to invest in a house (Estates rather than general NW/SW sectors plse). Kindly exclude flood prone areas. Preferably less than 1 hour from Downtown. Safe for young children. And what is a realistic budget for a reasonable hse. CAD$500-600K?? Tks in advance.

 

[eatshitndie]

Quick Question. I'm moving to Calgary. Appreciate if Seniors can advise which are the good areas to invest in a house (Estates rather than general NW/SW sectors plse). Kindly exclude flood prone areas. Preferably less than 1 hour from Downtown. Safe for young children. And what is a realistic budget for a reasonable hse. CAD$500-600K?? Tks in advance.

because i prefer heading westwards to canmore and banff for the weekend, i would recommend the aspen woods, cougar ridge, valley ridge areas close to the old olympic park. it's away from traffic and downtown, and has bigger lots and "more" home.

 

[nayr69sg]

Quick Question. I'm moving to Calgary. Appreciate if Seniors can advise which are the good areas to invest in a house (Estates rather than general NW/SW sectors plse). Kindly exclude flood prone areas. Preferably less than 1 hour from Downtown. Safe for young children. And what is a realistic budget for a reasonable hse. CAD$500-600K?? Tks in advance.

http://www.avenuecalgary.com/articles/calgarys-best-neighbourhoods-2013

http://www.avenuecalgary.com/blogs/the-complete-neighbourhood-map

http://www.homesincalgary.info/page_content-21.html

 

[JohnDoe]

Thanks for all the replies and links. Another question. If you live in Arbour Lake and work downtown. what are travelling times like in summer, in winter? Do most people drive to downtown or do they take the train? I assume that most businesses/employment are located in the downtown area??

 

[CanuckSG]

Hi All,

Alberta does not (or, no longer) allows this for operator's licenses from Singapore. There is no 'reciprocal agreement' between the two.

You might have to start from scratch, get a Class 7 learner's permit.
From there, you either take the Advanced Class 5, or the GDL Class 5 (with certain restrictions).

Yes, this is correct. Me and my wife had to start from zero. There's no reciprocal agreement in place between CA & SG.

 

[exSINgaporean]

Yes, this is correct. Me and my wife had to start from zero. There's no reciprocal agreement in place between CA & SG.

I do auto and home and life insurance in Edmonton. The above info is correct.

But you should get from your Singapore insurer a letter of your claims record. Better still a letter from the traffic police of your traffic record.

For overseas drivers who do not have Alberta driving experience, you get a 0 "Star" rating. Minus 15 is the best for insurance records. I am minus 15 which states for the past 15 years (we ask for only the past 6 years) I did not have any at fault accident claims and not traffic tickets for the past 3 years.

With the Singapore record, your auto insurance broker can help you to get some "star" ratings so as to lower your car insurance.

I suggest when you first arrive in Alberta, do not buy expensive cars. Get a decent 3 to 5 years old car from a good car dealer like Toyota or Honda which give you an inspection report. Then you might not need to insure comprehensive and collision to save on ins. Even you ins for comprehensive and Coll, go for higher deductibles and waive the glass insurance.

You might not get Claims Advantage, CA which is zero deductible for total collision lost. Only those with good rating can get CA. However no harm asking your insurance broker. It only costs $10 a year.

Hope this helps.

 

[exSINgaporean]

If you come to Edmonton, please beware of a ex-Singapore man who befriend you and drives you around. Later he will get you to buy houses and other things. He has a cut in all these and yet NOT license.

Very friendly but be careful. If you want to buy a home, go to a local real estate agent who is registered. Buy from a car dealer. This man and his wife should never need to sell you anything on a mark-up price.

Go to the Catholic Social Service and they will direct you. They have a "New Immigrant" dept. They can even pick you up from the airport. Contact them online. Do not trust anyone just because he/she was from Singapore or our part of the world.

I have seen enough of cheats in my past 24 years living in Edmonton.

 

[nayr69sg]

If you come to Edmonton, please beware of a ex-Singapore man who befriend you and drives you around. Later he will get you to buy houses and other things. He has a cut in all these and yet NOT license.

Very friendly but be careful. If you want to buy a home, go to a local real estate agent who is registered. Buy from a car dealer. This man and his wife should never need to sell you anything on a mark-up price.

Go to the Catholic Social Service and they will direct you. They have a "New Immigrant" dept. They can even pick you up from the airport. Contact them online. Do not trust anyone just because he/she was from Singapore or our part of the world.

I have seen enough of cheats in my past 24 years living in Edmonton.

Are they still doing that? I haven't heard much about them since I moved to Calgary, wonder how they are.