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Leaving Canada

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Leaving Canada

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Old Jul 27th 2011 | 6:52 pm
  #16  
 
Joined: Sep 2008
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Default Re: Leaving Canada

Originally Posted by daisycutter
Just wondering if anyone has had problems sending a lump of money overseas once the house sale is completed and the cash is in your bank account ... are there any limits too sums that you can send abroad ? cheers.
No limits, it is how international commerce is done all the time. You do however need to be sure you have you valuation from landing, the FX rate at the time, any gains reported as such on your tax return. The banks report larger transaction to the govt., but only if there is concern are you likely to get a visit.
 
Old Jul 28th 2011 | 3:17 am
  #17  
Location:West Van, BC
 
Joined: Sep 2008
Posts: 132
From: Gloucestershire UK
daisycutter is an unknown quantity at this point
Default Re: Leaving Canada

Originally Posted by The Aviator
No limits, it is how international commerce is done all the time. You do however need to be sure you have you valuation from landing, the FX rate at the time, any gains reported as such on your tax return. The banks report larger transaction to the govt., but only if there is concern are you likely to get a visit.
thanks for the info ... i think the CAD will sit in my forex account for a while until rate is suitable for a change,maybe a few months ... have a great day ...
 

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