Moneybookers Canada

[marinko]

I would like to withdraw approximately $1000-2000 each month from my MoneyBookers account to my bank account in a Canadian bank.

Do I have to report this money in my income tax each year?

[gwen]

say your relative wire you money, or you sell stuff on ebay and receive a paypal payment, do you need to report those to revenue canada ?

[marinko]

Well that's what I am asking. So far I have already made few withdrawals of approximately 300-400$ and there wasn't any problem. But what if I make withdrawals of $25 000 a year. Is there any chance that my bank will report this to Revenue Canada?


Maybe it's not same if I take out $300/month or $2000/month? Maybe there is a limit?