Hello there,
I need your advice regarding bringing money into Canada when landed. I was told that I need to declare the amount once it's more than 10,000 CND and the money bringing to the country at Port of Entry will not be taxed. My questions are:
1. Is there any maximum CASH limit?
2. If someone brings large amount of CASH along with BANK DRAFTS. Will that person be questioned by the officer about the source of money? Or they just don't care?
3. If someone decides to have another money be wired from overseas to Canada later on, the wired money will be taxed? How do the TAX department find out since the money will be wired directly from foreign country to Canada?
Your advise is greatly appreciated. Thanks in advance.
I need your advice regarding bringing money into Canada when landed. I was told that I need to declare the amount once it's more than 10,000 CND and the money bringing to the country at Port of Entry will not be taxed. My questions are:
1. Is there any maximum CASH limit?
2. If someone brings large amount of CASH along with BANK DRAFTS. Will that person be questioned by the officer about the source of money? Or they just don't care?
3. If someone decides to have another money be wired from overseas to Canada later on, the wired money will be taxed? How do the TAX department find out since the money will be wired directly from foreign country to Canada?
Your advise is greatly appreciated. Thanks in advance.
