Please excuse me if this question has already been there on the forum. I would like to know that is there any limit to bring money to Canada at the time of landing inform of cash or bank drafts/traveler's checks etc?
I want to sell my property and bring the money to Canada at landing in order to avoid to pay tax later on. Can I bring this money later on? If yes, then how much later, a year? Can I inform the IO at landing, in writing, about my plan to bring that money later on and then that money would not be accounted as a foreign income while paying my taxes? All suggestion are welcome.
It is always recommeded to carry funds in 1)Some Cash, 2) TCs & 3) a Bank Draft - it takes about 30+ days to encash that. all the 3 formats (only), No Bank Statement/s.
My understand is there is no limit, however is you are taking more than 10,000 CAD then you must inform the official at the airport upon landing. I think you can be arrested/charged if you take more than 10,000 without informing them.
My understand is there is no limit, however is you are taking more than 10,000 CAD then you must inform the official at the airport upon landing. I think you can be arrested/charged if you take more than 10,000 without informing them.
Wayne has opined correctly... There's no max limit. Yes, u can bring-in $100K & any/many more. Which can be either or in multiple formats. No issues there; & no levies/taxes as well.
1. The only requirement is to Declare any amount at or beyond $10K to the CBSA, for which u'd be provided a Disembarkation Form while@the flight itself.
2. Besides, for larger funds (IMHO anything more than the CIC requirement or above $40-50K) plz keep it's Proof of Source as well.
