Transferring Money to Canada

In Canada I believe the limit was 10K per year and they don’t look at it for anything, including taxes. Have you looked into taxation?

There is an old joke about Vancouver Airport :laughing:

Suitcases of cash and all that. :laughing: :laughing: :laughing:

10,000 per year? :rofl: :rofl: :rofl:

OP was asking about bank transfers. If you don’t have something helpful or relevant or funny to contribute, maybe try another thread :wink:

There is no legal limit how mush someone sends to another country, even Canada. There are no taxes to be paid on money you own to another country when it arrives in that country. It is not income.

Over 10K it had to be declared, after that I don’t know everything that can happen because I kept the amounts under

Not per year…per transaction. You can do it 100 times as long as it is below that threshold.

It can even be above that threshold but it would be red flagged by RC.

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What does that have to do with the claim the limit is 10K per year? lol There is no legal limit of how much you can wire to Canada.

So what if you need to declare these are my personal funds? Still not an issue.

Might be an issue for OP. If you have anything helpful to add to their post, please reply there

The OP wants to send money he saved from work over several years back home. He can send the full amount to the UK with no issues at all. Saving less than NT$200k a year is a small amount.

If you have anything helpful to add to their post, please reply there. Your statements about limits to Canada are also incorrect. There are no limits yet you claim 10K per year, where did you get this idea from?

Over 10k is scrutinized and you need to show receipts. Bank statement from sending institution and such. It’s a profits from drugs and laundering thing. Could be @TT was being helpful, but not fully.

I see people sending funds to Canada to their children and all they do is fill out the forms and done. Some older people still go to the bank instead of doing online.

10k is the amount you can bring over in cash on airplane, and must be declared. In the USA.

But you can wire a lot more than that, used to be 90k without having to make any additional declarations, however the bank will inform the IRS if anything looks sketchy. :idunno:

This is 100x more suspicious and will get flagged. Don’t do it. Just send it once as a lump sum.

The >10k in one transaction flagging is not red, it’s just required to be logged by law. Nothing will happen to you.