Cash Carrying limit

[mtlcanada]

Guys, what will happen if I carry cash more than 10k and I declare at customs or immigration officers.

Do I need to pay tax from my money or is it that my money will be ceased?

Please any genuine advice considering present situation is appreciated.

 

[subodhp]

Guys, what will happen if I carry cash more than 10k and I declare at customs or immigration officers.

Do I need to pay tax from my money or is it that my money will be ceased?

Please any genuine advice considering present situation is appreciated.

No, why we declared they will just document (currency, denomination) and that's it. If your funds are significantly higher, you may be asked for proof that funds are yours and not part of some illegal racket. Plan to carry your banking statements in such cases.

Declaring beyond 10k is compulsory and not declaring can lead to cash being seized