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January 9, 2022
Question

I did some loan in my born country that were transfered to can into my personal canadian bank account. Should I declare this as income. If so, how?

  • January 9, 2022
  • 1 reply
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    1 reply

    January 10, 2022

    We appreciate you choosing TurboTax,

     

    There is no tax to be paid on Loan, which is not a form of income.

    If taxable benefits arise, the situation could differ (please see link no. 2).

     

    Please visit the link provided for further clarifications:

    1. CRA: All types of income
    2. CRA: Loans received because of employment

     

    Please contact our phone support team or contact us directly on Facebook or Twitter if you require further assistance.