Best way to bring money to Canada

[L_K_84]

Hello, a question for those who transferred their money from their homeland accounts to their Canadian bank accounts, is there a tax of 35% in order to send money to Canada? If yes, did you actually pay this much to transfer your money?

 

[steaky]

Hello, a question for those who transferred their money from their homeland accounts to their Canadian bank accounts, is there a tax of 35% in order to send money to Canada? If yes, did you actually pay this much to transfer your money?

I used HSBC Global Transfer. No tax no fees. Instant transfers.

 

[subodhp]

Hello, a question for those who transferred their money from their homeland accounts to their Canadian bank accounts, is there a tax of 35% in order to send money to Canada? If yes, did you actually pay this much to transfer your money?

Irrespective of whether you transfer or not, you pay tax on global income and not on global wealth

 

[eninevo]

Friends and Seniors,

Need help on moving money to Canada as new immigrant. If I get a Demand/Bank draft in CAD, would this be acceptable by big banks in Canada. Any experience on Demand/Bank drafts please share

Thank you

 

[jimchou]

Agreed. As long as you declare it you are fine bringing in any amount. Be aware that it isn't just CDN cash you have to declare, it's any currency that is more than 10K CDN. That includes precious metal, bonds, etc.

If I bring gold to Canada, how do I declare it. Just write how many grams on the detailed list of all the personal or household items you’re bringing with me?

 

[steaky]

If I bring gold to Canada, how do I declare it. Just write how many grams on the detailed list of all the personal or household items you’re bringing with me?

And estimate price.