There is an administrative threshold of $50,000 Canadian in aggregate, I believe, from all accounts—chequing, savings, and so on. If somebody were below that threshold, the bank would have the option not to transmit the information.
Assistant Commissioner, International, Large Business and Investigating Branch, Canada Revenue Agency
There is an administrative threshold of $50,000 Canadian in aggregate, I believe, from all accounts—chequing, savings, and so on. If somebody were below that threshold, the bank would have the option not to transmit the information.
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