To Transfer More Money into Canada After Landing, advise please

[candy555]

Hi all,

We will be landing soon. We would like to transfer around 60,000 CADS into our Canadian account, with in 6-12 months of landing to buy a house.

Kindly advise :

Should we declare this at the POE at first landing?
Is there any specific form for this declaration?
Would this money be taxable

Advise please.

Regards
Candy

 

[Londonqtr]

I am seriously interested to know the answers of all your questions.

People Please reply...

regards
londonqtr

 

[vermas]

Hope you will find info on following link helpful.

http://britishexpats.com/wiki/Goods_To_Follow

Cheers....

Hi all,

We will be landing soon. We would like to transfer around 60,000 CADS into our Canadian account, with in 6-12 months of landing to buy a house.

Kindly advise :

Should we declare this at the POE at first landing?
Is there any specific form for this declaration?
Would this money be taxable

Advise please.

Regards
Candy

 

[candy555]

Hi,

Seniors please advise on my questions. Thanks in advance.

Candy

 

[Mezo2009]

Yes you need to declare these funds, otherwise, these will be taxable. I will try to find you a reference link.

 

[JCSR]

Re: Carrying Cad$ in cash.

Hello Friends

I will be landing shortly with my wife and 2 kids and the amount needed to carry is Cad$20,599/-.

My question is, is it legally allowable to carry the entire amount in cash because I found that I will be loosing heavily on the exchange rates if I carry a draft.
I am in Dubai at the moment and the UAE Dirham is loosing on the Cad$. At my airport of landing will the Visa Officer create a hassle for me.

Thanks in advance

 

[steaky]

The officers at YVR, for example, will just ask you how much you are carrying in cash (in equivalent to Canadian dollars). Declare it. No hassle. Perhaps long line-ups.

 

[Mezo2009]

Re: Carrying Cad$ in cash.

Hello Friends

I will be landing shortly with my wife and 2 kids and the amount needed to carry is Cad$20,599/-.

My question is, is it legally allowable to carry the entire amount in cash because I found that I will be loosing heavily on the exchange rates if I carry a draft.
I am in Dubai at the moment and the UAE Dirham is loosing on the Cad$. At my airport of landing will the Visa Officer create a hassle for me.

Thanks in advance

No issues at all, you just need to declare it at POE. Whoever carries more that CAD$10,000 or equivalent in foreign currencies has to declare it.

 

[JCSR]

Thanks for all your answers friends

 

[candy555]

Hi, I am still waiting for the answers for my queries. We are landing on 25 April. PMM or other senior members kindly respond.

Regards

Bozica

 

[wilson]

Hi all,

We will be landing soon. We would like to transfer around 60,000 CADS into our Canadian account, with in 6-12 months of landing to buy a house.

Kindly advise :

Should we declare this at the POE at first landing?
Is there any specific form for this declaration?
Would this money be taxable

Advise please.

Regards
Candy

Hi,

There is no tax for the money you transfer from other country to your account in Canada for settlement purpose.
You don't have to declare in advance about the money you are planning to bring (transfer) in the future. Declaration is required if you carry an amount exceeding CAD 10,000/= while you land.

 

[barsindoo]

Hi,

There is no tax for the money you transfer from other country to your account in Canada for settlement purpose My thoughts also. The government is aware that we had a established life in our previous locations..
You don't have to declare in advance about the money you are planning to bring (transfer) in the future. Declaration is required if you carry an amount exceeding CAD 10,000/= while you land.

 

[candy555]

Hi,

Thanks for all the responses. But one of my question is still there

If you receive money into Canada after landing from your home country, will that be TAXED?

please reply

Regards

candy

 

[monaliza]

you do not get taxed on funds that you are transferring to Canada.

 

[iloveYou!]

Seems people got lot of black money.