Fly on Friday - one final question on money
Sep 1st 2014, 12:57 pm
#1
Forum Regular
Thread Starter
Joined: Mar 2013
Location: Toronto
Posts: 46
Fly on Friday - one final question on money
We fly on Friday!! YIKES! Cant believe its almost here.
Almost there with everything, cases are 80% packed and just the final things to tick off the to-do-list
One question we do have - and I wonder if anyone has had any advice....
How long do we have to get our money over to Canada without incurring any charges/additional taxes?
Our plan was to transfer enough to keep us going for the first few weeks - then transfer the rest over, say within a month. Is that do-able? Does leaving it this long to transfer over, incur us any taxes, fees or charges - either at the Canada or UK end?
Thanks very much
Almost there with everything, cases are 80% packed and just the final things to tick off the to-do-list
One question we do have - and I wonder if anyone has had any advice....
How long do we have to get our money over to Canada without incurring any charges/additional taxes?
Our plan was to transfer enough to keep us going for the first few weeks - then transfer the rest over, say within a month. Is that do-able? Does leaving it this long to transfer over, incur us any taxes, fees or charges - either at the Canada or UK end?
Thanks very much
Sep 1st 2014, 2:55 pm
#2
Born again atheist
Joined: Jul 2005
Location: Europe (to be specified).
Posts: 30,259
Re: Fly on Friday - one final question on money
We fly on Friday!! YIKES! Cant believe its almost here.
Almost there with everything, cases are 80% packed and just the final things to tick off the to-do-list
One question we do have - and I wonder if anyone has had any advice....
How long do we have to get our money over to Canada without incurring any charges/additional taxes?
Our plan was to transfer enough to keep us going for the first few weeks - then transfer the rest over, say within a month. Is that do-able? Does leaving it this long to transfer over, incur us any taxes, fees or charges - either at the Canada or UK end?
Thanks very much
Almost there with everything, cases are 80% packed and just the final things to tick off the to-do-list
One question we do have - and I wonder if anyone has had any advice....
How long do we have to get our money over to Canada without incurring any charges/additional taxes?
Our plan was to transfer enough to keep us going for the first few weeks - then transfer the rest over, say within a month. Is that do-able? Does leaving it this long to transfer over, incur us any taxes, fees or charges - either at the Canada or UK end?
Thanks very much
I wouldn't worry about that though.
Sep 1st 2014, 3:01 pm
#3
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,682
Re: Fly on Friday - one final question on money
If there was a significant strengthening of the £ against the $ during the month there is a possibility of a capital gain in Canada. Otherwise no. It is your money to do with as you wish.
If you import more than $10,000 in cash/convertible securities you have to report this to the Canadian government. If you are carrying cash or similar you report this to customs on arrival. If by bank transfer the bank will make the report on your behalf.
If you import more than $10,000 in cash/convertible securities you have to report this to the Canadian government. If you are carrying cash or similar you report this to customs on arrival. If by bank transfer the bank will make the report on your behalf.
