Sunday, December 4, 2011

What is the max. TAX-FREE wire transfer amount in Canada?

My aunt from Taiwan is going to wire some money to lend to my mom in Canada. The amount will be around or slightly exceed $10,000 CAD. We're concerned that this make exceed some sort of limit and will become taxable. I'd appreciate any info. Thanks!|||Gifts and loans are not taxable in Canada.





You might ask this question in "Other-Taxes" for the Taiwan regulations.|||WE HELP IN MONEY TRANSFER TO BANK WITHOUT TAXATION IN YOU COUNTRY.





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|||The gift will not be taxable for income tax purposes.





However, if the amount of the transfer exceeds $10,000, a report will have to be filed with the Canada Border Services Agency. See the following link for more information: http://www.cbsa-asfc.gc.ca/publications/鈥?/a>

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