Popsicle Posted July 11, 2011 Share Posted July 11, 2011 How much savings can you have before you need to declare it on a tax return? is there a threshold? Also, do offshore savings have to be declared? again is there a threshold? Thanks in advance Link to comment Share on other sites More sharing options...
Guest Nakrob Posted September 8, 2011 Share Posted September 8, 2011 This depends on your residency status. If your a permanent resident then all your savings interest needs to be declared and you'll pay tax on it at the marginal rate. I assume that off shore earnings would be treated the same, it just happens that the interest is paid 'tax free' at the off shore account. Link to comment Share on other sites More sharing options...
Alan Collett Posted September 8, 2011 Share Posted September 8, 2011 Does the OP mean the capital sum, or the interest received from it? Best regards. Link to comment Share on other sites More sharing options...
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