Money & Finance

Canadian banks require primary identification, secondary identification, and proof of address to open accounts for newcomers.

Canadian credit history for newcomers begins with securing a Social Insurance Number, opening bank accounts, and using secured credit cards properly.

Registering a freelance business with the Canada Revenue Agency explains how to obtain a Social Insurance Number, business name, and GST or HST account.

Canadian tax residency rules, foreign pension reporting, tax treaties, and local retirement benefits determine your overall income tax obligations.

Capital gains tax in Canada applies to half of your profit from selling assets like real estate or stocks, based on income.

Maintaining foreign bank accounts after moving to Canada requires managing tax residency rules and reporting worldwide income and specified foreign assets.

Canadian income tax refunds occur when individuals overpay taxes through payroll deductions or qualify for specific credits and deductions.

Canadian tax credits and benefits help newcomers reduce income tax, claim deductions, and receive financial support from the government.

Opening a Canadian bank account requires valid identification, proof of address, immigration documents, and selecting the right financial institution.

Initial capital brought into Canada is generally not taxed, though newcomers must declare cash over ten thousand dollars at the border.