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How much money into Canada when going a second time?

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falcon123
Newly Registered
Posts: 2
Joined: Sat Oct 08, 2011 9:37 pm

How much money into Canada when going a second time?

Post by falcon123 » Sat Oct 08, 2011 9:43 pm

I made my first landing in July 2010 and had declared the amount of money I was carrying at that time. Then I received my PR card in October 2010.

Now I am going back to Canada a second time and this will also be my permanent relocation.

Question: Can I carry more than CAD 10000 ? If I carry approx CAD 17,000 and when I declare this money, will I be taxed at the airport for this?

I basically want to know if there is any limit for second time visitors who have already completed their landing and received PR card. And will I be taxed if I take more than CAD 10,000.


Thanks.

giuseppenero
Junior Member
Posts: 60
Joined: Wed Mar 02, 2011 2:18 am
Location: italy

money limit

Post by giuseppenero » Fri Jan 20, 2012 1:22 pm

As pr of canada, wouldn't it be better to ask the canadian embassy?

jrge
Member
Posts: 204
Joined: Sun Apr 10, 2011 3:43 pm

Re: How much money into Canada when going a second time?

Post by jrge » Sat Jan 21, 2012 6:07 pm

falcon123 wrote:I made my first landing in July 2010 and had declared the amount of money I was carrying at that time. Then I received my PR card in October 2010.

Now I am going back to Canada a second time and this will also be my permanent relocation.

Question: Can I carry more than CAD 10000 ? If I carry approx CAD 17,000 and when I declare this money, will I be taxed at the airport for this?

I basically want to know if there is any limit for second time visitors who have already completed their landing and received PR card. And will I be taxed if I take more than CAD 10,000.


Thanks.
I might be mistaken, but due to money laundering laws an individual can only bring up to 10k per trip without being taxed. Any monies in excess of that, is subject to applicable taxes and perhaps penalties. You could certainly take your chances -NOT ADVISABLE- and not declare how much money you are bringing.

Is someone else flying in with you?
Life is short, so let's get moving!
* Passport received: Family Permit approved AUG-22, 2011
* Landed in the UK: DEC-04TH-2011
* Received RC: MAR-21ST-2012
* Back to North-America Jul 2012

alimohmand
Member
Posts: 240
Joined: Mon Sep 08, 2008 8:56 am

Post by alimohmand » Thu Jan 26, 2012 6:42 pm

How about bank transfer I guess that should not be an issue as its the responsibility of issuing bank to confirm the source of income and receivers are most of them not bothered.

Obviously above statement will matter if you have a bank account in Canada

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