Transfer gift money from US to Canada
My brother is sending me gift money (USD) from US to help me with my house downpayment. He plans to wire transfer about 25K USD from his bank into my USD account with a Canadian bank.
Is there anything I need to do to make sure i do this in the most efficient and safe way possible.
Do I have to worry about paying taxes on it?
Should i break it down into chunks?
Just want to make sure i don't mess this up.
Is there anything I need to do to make sure i do this in the most efficient and safe way possible.
Do I have to worry about paying taxes on it?
Should i break it down into chunks?
Just want to make sure i don't mess this up.