I want to transfer my own money from my Indian bank chequing account to my Canadian bank account using. In this scenario are there any any tax implications?
The source of funds is my savings before immigrating to Canada.
If the Account has funds that originally were $100,000 CAD even before you immigrated to Canada, then any money you transfer to your Canadian Bank is considered income. You also should file a T1135 for your foreign income if the cost of the property is $100,000 CAD in total.
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