View Full Version : Tax to importing money to canada
mastaneh
May 31, 2007, 12:21 PM
Hello dear
I want to transfer money to my saving account to canada ,shall I pay tax for it &how much?
Lowtax4eva
May 31, 2007, 01:37 PM
Are you a Canadian citizen or permanent resident? There is no tax on importing money but if your only a visitor then Canada Customs will question you if the amount is very high.
You must declare the transfer of funds at the border (even online tranfer) if it is more than CAD $10,000
RC4321 - Crossing the Border With $10,000 or More? (http://www.cbsa-asfc.gc.ca/E/pub/cp/rc4321/README.html)
AtlantaTaxExpert
Jun 4, 2007, 07:36 AM
Not my area of expertise, but what LowTax says matches what would happen if you had the money imported to the U.S.