Landing - money into Canada

[ngunja]

Hey all,

Is there a limit of how much money you can take into Canada without being charged duty when you make your 1st entry? I was planning on taking 50,000 USD in cash; however, I might end up using a bank check to avoid carrying so much cash.

NG

 

[AllisonVSC]

You will be asked to report if you are carrying more than $10,000 in cash across the border. If you already have a Canadian bank account, I would consider using wire transfer for at least part. You might also want to consider maintaining a small amount of money in your US account for several months after you land, especially if you have an online bill pay system...never know when you will have to pay for something in US dollars. For me, right now, I have to pay for driver`s records in 2 states in order to get auto insurance.

 

[ngunja]

Thanks, that's a good idea. I was not planning on closing my account in the US.

I guess I was trying to find out if there was a maximum amount of money whether it be in cash/travellers check/bank check that one could bring into Canada without having to pay any taxes, specifically for the case of landing...I will declare the amount if I have more than $10,000, but do I end up paying a tax on it?

NG

 

[iarblue]

There is no maximum its just you must claim over $10000 and you can find the info on the Canadian Border and Customs website.You just have to fill out a form for declaration.