Quote:

---

Orginally posted by suratidesi

I am coming as a permenent resident. we are two adult. How much mini.funds to bring to complete immgration formality at airport.

Regards.

---

Hi Suratidesi,

Please check the following Link which has all the details...

http://www.cic.gc.ca/english/skilled/qual-4.html

Maverick

Quote:

---

Orginally posted by michelle288

If you are carrying more than CDN $10,000, tell a Canadian official when you arrive in Canada. If you do not tell an official...

i read this from the link suggested above. my question is what happens if you have more than that. do they tax u. accordinly i will decide how much to carry and how much to get later. pl reply urgently i am leaving in a few days time

---

NO THEY DO NOT IMPOSE TAX. The main purpose behind this regulation is to curb Money Laundering. Pl read follow para, wch I have d/loaded from one of the chapters of CPH,
============================================
On January 6, 2003, Cross-Border Currency and Monetary Instruments Reporting Regulations came into effect. These regulations require all persons and entities to report the importing and exporting of currency and monetary instruments of $10,000 or more, or the equivalent in a foreign currency to the CCRA. There are however no restrictions on the amount of currency or monetary instruments that may be imported into or exported from Canada, simply that they must be reported.
It includes any movement across the border, including by mail, courier or other conveyance, unless the currency or monetary instruments are being transshipped without leaving controlled areas.

IDA Member Regulation 188A clarifies the definition of monetary instruments to include those that are in bearer form only, or another form if title to them passes on at delivery. These include stocks, bonds, debentures and treasury bills, negotiable instruments such as bank drafts, cheques, promissory notes, traveler’s cheques and money orders. Instruments specified as belonging to a named individual or entity,
Section I: The Regulatory Environment such as cheques made out to a specific person or company and not endorsed and fully registered securities that have not been signed off are not required to be reported.
These regulations give customs officers with the CCRA authority to seize
unreported cash or monetary instruments above the threshold at border crossings. Written currency reports must be signed and given to a customs officer. The failure to report currency and monetary instruments may result in their seizure. While the owners of seized cash and monetary instruments can recover them if it is found that the seized assets are not linked to money laundering or terrorist financing, they may
be subject to the assessment of a penalty ranging from $250 to $5,000 depending on circumstances such as whether this is a first time event and whether there is any effort to conceal the assets. The Act also sets out a maximum fine of $500,000 and a maximum jail term of five years for failing to co-operate with CCRA when a submitting a report.
=============================================

So you don't have to worry abt any tax, just declare the amt of currency upfront, to avoid any hassels later on. Do let me know, if you are coming to GTA. If you need any other help, pl feel free to contact me or send me a PM