pay tax

[Elnakeeb]

Hello everyone,
I'm landing with my husband next month, for proof of funds, I have read that we don't need to carry the whole amount in cash. Can it be a combination of cash and gold coins? Or r we going to pay tax on that?

Thnx

 

[PMM]

Hi

Hello everyone,
I'm landing with my husband next month, for proof of funds, I have read that we don't need to carry the whole amount in cash. Can it be a combination of cash and gold coins? Or r we going to pay tax on that?

Thnx

There is no tax on money imported/exported from Canada, you have to declare any funds over $10K though. Much simpler to carry TCs, Demand Draft, wire transfer or proof of funds in a convertible currency from your overseas bank.

 

[Elnakeeb]

Thanks for the tips. We are coming from Iran, I do know if we gt proof of funds from there, would that be accepted in Canada or not?

 

[PMM]

Hi

Thanks for the tips. We are coming from Iran, I do know if we gt proof of funds from there, would that be accepted in Canada or not?

Probably not, since it is almost impossible to transfer funds from Iran to Canada under the UN and Canadian sanctions. http://www.international.gc.ca/sanctions/iran.aspx