Transferring of savings from overseas

[prive6399]

I will be transferring money that I saved while I wasn't a permanent resident of Canada to Canada very soon. Is the money that I earned overseas subject to Canadian taxes when that money enters the country? I became a permanent resident of Canada almost 4 years ago, but I would like to know if the money that I am transferring from 4 years ago to Canada will be subject to Canadian taxes.

 

[PMM]

Hi

I will be transferring money that I saved while I wasn't a permanent resident of Canada to Canada very soon. Is the money that I earned overseas subject to Canadian taxes when that money enters the country? I became a permanent resident of Canada almost 4 years ago, but I would like to know if the money that I am transferring from 4 years ago to Canada will be subject to Canadian taxes.

1. No, only the interest you earned after you became a tax resident of Canada is taxable.