u/Educational_Song6830

Any accountant or working in the government (CRA) here? I have questions regarding fund transfer from abroad. A close relative is sending me more than $10,000 as help for my finances. They sold piece of land from inheritance back home and want to give portion of the sale to me. Is it taxable, what’s the percentage and the process, etc? I asked several banks and all they say is they don’t have problems receiving any amount with minimal fee. They don’t have answer regarding tax implications. Thanks in advance!

To accountants or working in the government (CRA). I have questions regarding fund transfer from abroad. A close relative is sending me more than $10,000 as help for my finances. They sold piece of land from inheritance back home and want to give portion of the sale to me. Is it taxable, what’s the percentage and the process, etc? I asked several banks and all they say is they don’t have problems receiving any amount with minimal fee. They don’t have answer regarding tax implications. Thanks in advance!