taxes on money bringing from oversea

[trungN]

Hello.
I am sponsored to immigrate to Canada by my spouse (Canadian citizen). I am not a permanent resident yet.
I'm about to receive an amount of money from my home country as a loan from my parents. Do I have to pay any tax if I can prove that we had been taxed on those money in my home country? Thank you !

 

[zardoz]

Hello.
I am sponsored to immigrate to Canada by my spouse (Canadian citizen). I am not a permanent resident yet.
I'm about to receive an amount of money from my home country as a loan from my parents. Do I have to pay any tax if I can prove that we had been taxed on those money in my home country? Thank you !

No tax on currency is payable but if you are carrying it by hand, you must declare it at Customs if it's equivalent value is CAD 10,000 or more. You will be given other forms to complete. Failure to declare could result in confiscation. This is not required if you are transferring the money by wire.