Making Money Online and US Funds

**boundlessvisions** · 02-13-2005,11:35 AM

I am currently in the process of making alot of money online and will be paid in US funds and in cash, usually very large amounts. My question is, can I deposit this into my Canadian bank account without suspicion? I am in no way involved in anything illegal and plan on paying tax on this money. What about going to a currency exchange place and exchanging it for Canadian currency? Does anyone out there have any ideas on what to do with very large amounts of US money in Canada?

Gale

visions2004@excite.com

**AndreaV** · 02-18-2005,11:45 AM

Hi Gale,

If this is part of your business and you are planning on paying tax on this - you just need to track and claim the income in Canadian funds. For our business, we keep a separate bank account for US dollars, but our bookkeeping program converts the US sale to Canadian for our tax purposes.

Banks will monitor out of the ordinary deposits on your transaction history whether it is US or CDN funds....so you just have to make sure that you are claiming the income and your records are in order.

**kirks** · 04-03-2005,03:08 PM

nope, im doing a similar thing and it there should be no problem at the bank, but exactly how much and how will it be delivered cash ?

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**Lowe** · 11-25-2019,04:14 PM

agree with you..

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