My family and I will be coming to live in Canada permanently this summer. We made our initial landing in 2009 and returned to where I work currently.
I am aware that that one should declare if he/she carry over CAD 10,000 during the first landing.
Does this limit apply to PRs everytime they enter Canada?
My question here is: If I carry say CAD 15,000 when I enter Canada this summer:
a) Will this be allowed according to Canadian immigration rules? If not what is the limit?
b) Where should I declare this when I enter from Toronto airport? (Because, I will not be going to the immigration area as I did during my first landing)
There's no limit on how much each time you can bring or carry into Canada. But if you are carrying over CAD10,000 you would need to declare in the arrival form.
1. No tax/duties/levies... u get to bring-it-in Free of charges.
2. If u declare - YES, it becomes your overseas income... we r required to pay for our 'Global Income'*.
Qorax *Unless they have a Tax Treaty between the countries.
I agree with qorax. Also, if you sell your house or investment outside Canada at a loss, which is a capital loss, you can offset future capital gains in another investment if u declare.