A Tax Checklist Before You Land

Asset valuations, bank statements, proof for property and shares, and the documents to bring

Scott Tang, CPAUpdated 2026-11-052026 rules5 min read

The few months before you land are your window to lay the tax groundwork in one go. The market value of your assets, the source of your funds and proof of your income are easiest to prepare before you land; if you try to fill the gaps a few years later, the documents often can't be found and things are hard to explain. For some income, whether you receive it before or after you land makes a complete difference to the Canadian tax.

Landing day

Your assets' Canadian cost is set at their market value on this day

Income before landing

Non-Canadian-source income from before you become a resident is generally not taxed in Canada; this depends on the rules for when income is recognized and where it comes from, not just on when the money arrives

2 years

When you apply for the Canada Child Benefit, you give your worldwide income for the two years before you landed

6 years

Generally keep tax records for at least 6 years; keep evidence of asset cost until you sell and the related returns can no longer be reassessed

3–6 months before you land

1
List your assets
Homes, stocks, funds, companies, deposits, MPF
2
Your residency date
When the whole family will actually settle here
3
Plan the order
Which income and disposals to complete before landing
4
Formalities in China
Follow local rules; ask a local adviser
5
Prepare documents
Valuations, bank statements, proof of income

What turns out differently before and after landing

Item	Done before landing	Happens after landing
Receiving a year-end bonus or dividends (non-Canadian source)	Generally not taxed in Canada	Included in your Canadian income
Selling a home or stocks in China	Not taxed in Canada; but selling after landing would also count only the increase after landing	Only the increase in value after landing is taxed in Canada
Withdrawing MPF or other retirement savings	Generally not taxed in Canada; check the specific plan	Depends on the specific plan and the income recognition rules; check the result before and after you become a resident first
Receiving a gift from your parents	No tax either way	No tax either way, but you need to explain the source either way

So it isn't a case of "selling everything before you land" — your assets' cost is reset to market value when you land. What you really need to think through before landing is one-off income. Your residency date depends on the actual facts; you can't simply pick a date to suit an MPF withdrawal or anything similar.

Documents to bring

Asset valuations
Property appraisals or records of comparable sales at the time, statements for stocks and funds, and company financial statements, showing market values around your landing date.
Bank statements
The source of large deposits: home sale contracts, salary, dividends, gift declarations. The bank will ask when you transfer the money.
Proof of income
Proof of income and tax payment certificates for you and your spouse for the two years before you land — you need them to apply for the Canada Child Benefit and other benefits.
Identity and family documents
Marriage certificate, birth certificates, household registration booklet (hukou), driving record (notarized and translated).
Company documents
For companies in China: business licence, articles of association, register of shareholders, financial statements — you may need to file the T1134 after landing.

Points to watch

Tax formalities in China
Under Chinese rules, if you cancel your household registration (hukou) because you are moving abroad, you must complete an individual income tax clearance before it is cancelled. Have a local adviser confirm the specific requirements and timing.
Don't split foreign exchange transfers
Move funds out of China through proper channels under the foreign exchange rules; don't split the amount using other people's quotas.
If your family arrives in stages
Each person's residency date may be different. See "Family Members Landing at Different Times: Who Is a Resident and How to File" in this series.

How Sheng Qian CPA can help

A timeline before you land
Based on your assets and income, we work out with you what to do before landing and what to do after.
Build your landing cost schedule
We turn the market values and exchange rates on your landing day into Canadian-dollar costs.
Your first return and benefits
We prepare your first tax return after landing and apply for the Canada Child Benefit and the CGEB at the same time. For fees, see "What Sheng Qian CPA Can Do for Newcomers and People Leaving Canada: Support on Arrival and on Departure" in this series.

Sources

CRA: Newcomers to Canada (immigrants) · Completing your return for newcomers
CRA: Form RC66SCH, Status in Canada and Income Information
China's State Taxation Administration: Individual Income Tax Law (Article 13) (in Chinese)

Disclaimer

This article is general information only and is not tax advice. Everyone's situation is different; please consult a CPA about your specific arrangements, and a qualified local adviser about Chinese tax and foreign exchange matters. Service fees are as set out in our written quote.