Peter Pauper

X-No-Archive: yes

(1) the interest you've earned since you landed is taxable.
(2) with that amount of money, even a 1% better exchange rate is going to help you so
I'd find a currency trader in Toronto

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Hanks Lee

Hi Experts,

I'm a landed immigrant. I have CND$200,000.00 deposited in one of the banks in
Singapore. I didn't claim that I have this money when I landed a year ago and there
is no record of this money in my landing paper.

My question is how I can bring this money into Canada legally when I need it (The
exchange rate is low right now that's why I didn't bring it in when I landed). Can I
use internet banking to transfer these money into my bank account in Canada? Do I
need to pay tax on these money (Will it be considered my income for this year)?

Thanks in advance.

Stephen C. Gallagher

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If I recall correctly, your landing paper shows how much money you are bringing into
Canada with you, not your worldwide assets.

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The best way would be to have it wired into a Canadian bank account.

You won't have to pay tax on it, unless you earned it after you became a resident
of Canada.

Stephen Gallagher