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No this money from India is yours it is not income made within Canada so it is not taxed. The reason Canada is like this is because we welcome money into the country they want you to spend your money here and build your life. It is strange i know because we may be one of the only countries that...

CIBC lets you transfer and they deal with a much better program called Transferwise. This bank is great with overseas money and transfers they help you and work with you to set up what you need. They also do higher transfers depending on what you need.

My suggestion to you is to deal with CIBC they are very experienced with this and help many from places like yours set up what they need and help them with the transfers and understanding how it all works. They have great programs for new comers to Canada as well. They are the only bank i find...

Hello everyone, One thing i noticed that no one is telling you in here. When you bring foreign currency into Canada that you already paid the tax on in the country it was earned before becoming a citizen it is not taxed. Here is when that money gets taxed, if you earn interest on any of that...