PR, Transferring savings to Canada

[Neuvelino]

Hi All,
I will be transferring my savings to Canada and wanted to know if it will be taxed.
Background:
My wife and I did our landing in Toronto in June 2018, during that time we also worked on documents such as getting a SIN, health insurance and driving license in order to prepare ourselves for when we finally move. We received our PR cards in September 2018.
We only spent around 3 weeks in Canada in 2018 and returned to our home country to work on moving ourselves, I.e leaving our jobs and getting things in order.
Now we will be moving permanently to Vancouver at the end of December and will be shipping our furniture as well. When landing the customs officer said to declare it when we finally do move and it will be tax exempt.
I want to ask about transferring our savings to the Canadian bank accounts, will it be taxable?
We did not submit our taxes in April of 2019.
Please advise if this is the right place to check or direct me on where to go.
Thanks.

 

[canuck_in_uk]

Hi All,
I will be transferring my savings to Canada and wanted to know if it will be taxed.
Background:
My wife and I did our landing in Toronto in June 2018, during that time we also worked on documents such as getting a SIN, health insurance and driving license in order to prepare ourselves for when we finally move. We received our PR cards in September 2018.
We only spent around 3 weeks in Canada in 2018 and returned to our home country to work on moving ourselves, I.e leaving our jobs and getting things in order.
Now we will be moving permanently to Vancouver at the end of December and will be shipping our furniture as well. When landing the customs officer said to declare it when we finally do move and it will be tax exempt.
I want to ask about transferring our savings to the Canadian bank accounts, will it be taxable?
We did not submit our taxes in April of 2019.
Please advise if this is the right place to check or direct me on where to go.
Thanks.

Savings are not taxable and don't have to be declared when entering Canada. You can just transfer it. Ensure you keep records of the sources of the money.

You did not qualify to apply for health insurance when you did your soft landing. If you signed up for OHIP, you must notify them that you left right after. When you come to BC, you will have to serve out the wait period before getting health coverage. You should ensure you have emergency coverage during this time.