Question about cashouts in Canada...

[Janabis]

It's my understanding that sums of money in excess of $10,000 are normally declared to customs before being brought into the country or else the money can be seized. Would this apply to a cashout from a poker site in excess of $10k? Also, are there tax implications in making regular bank deposits of this magnitude or is Canada a tax haven for poker players regardless of the activity in their bank accounts?

[Tappy Tibbons]

Canada has a comprehensive tax treaty with the US. If you go you go to Canada and open a bank account, you'll be given an IRS form to fill out if you're a US citizen. With that level of cooperation, you can bet that CTRs will be generated for any transfer over 10K, as well as any bank account that holds more than 10K at any time. A Canadian account is no tax haven - it might as well be from Bank of America.

[Janabis]

I'm not concerned with the US in any way, I'm mainly wondering if I can bring more than $10k into Canada through a Party cashout into my Canadian bank account without doing any paper work or customs declaration.