It is perfectly legal to export large amounts of cash from Canada but if you intend so to do you must declare the export if you are taking more than $10,000 out of the country. If you don't the money is subject to seizure.
In Vito v. Canada (Public Works and Government Services), 2008 ONCA 670 the Court of Appeal considered a situation where an individual entrusted another the move $5,000 in cash out of Canada. The individual moving the cash had other money that took the amount exported over the $10,000 limit. The entire amount was seized.
The person who lost the money sought relief and the court of first instance granted relief. The Court of Appeal overturned that ruling saying that where money is exported in cash the person giving the money must take active steps to ensure currency regulations are complied with.
The Court held:
[30] McCain gave a non-family member thousands of dollars to take to a relatively unstable part of the world. As the application judge observed in relation to the other applicants, common sense and prudence dictated that an inquiry be made as to any applicable legal restrictions or steps taken to ensure that the courier would comply with all regulations relating to the export of currency.
James Morton
1100 - 5255 Yonge Street
Toronto, Ontario
M2N 6P4
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