Have a question about travelling across the Canadian border with money.
I know at customs in Canada you have to declare if you are travelling with over $10,000 and was wondering what happens when you declare over this amount? If you say you won money playing poker do you have to pay tax on your profit? Is there a limit to how much you can come back with? I know casinos can offer you a cheque as payout, is this a better option for hassle free travel?
Has anyone ever had any problems going either way across the border in Canada with +$10,000?
I'm quite certain they just want to check the legality of the funds. If they believe you and where the funds came from and that it's not related to criminal activity, then you should be fine to take in any amount as long as you declare it.
I don't see why the Canadian border guards would make you pay taxes, presumably to the IRS, on gambling winnings you have on you. OTOH you are taking a risk if you bring undocumented cash in large amounts with you across the border. Border guards have pretty extreme powers, even vs citizens of their own country, to say nothing about their powers against aliens. They can detain you, impound and search your vehicle, and confiscate your property. Sure, you would have legal avenues to seek the return of your cash, but that process probably wouldn't be cheap and might not be easy.
