? asked in Business & FinanceTaxesCanada · 1 decade ago

paypal in canada trus (td)?

i have money in my paypal account and i need to withdraw it to my bank account (TD)

would the canadian government charge me for that money ?

i know that paypal will but what will happen if i get the money to my bank account will get the same money or will they take away taxes ??

1 Answer

Relevance
  • Fred S
    Lv 7
    1 decade ago
    Favorite Answer

    There is no tax on transferring money between accounts.

    If the source of funds in your Paypal account is profitable business income, that would be taxable. However, it's taxable regardless of whether you transfer it or not.

Still have questions? Get your answers by asking now.