I have a Canadian and German passport, but I have lived in Canada for 15 years. My grandpa, in Germany, had opened a certain savings account for me from which I will recieve a lot of money from in 2013. (I cannot touch the money before or else a certain bonus will be lost). I talked to the German bank and they said that when the agreement is done and I can get the money they will transfer this money to my Canadian bank account with a transfer fee, but I will not have to pay any German taxes on it since I do not live in Germany. What kind of taxes will I have to pay in Canada on this money?
I think if you transfer money from your account in Germany to your account in Canada you don't have to pay any taxes. However if you get any interest on your deposits, you probably have to pay tax (and probably in Canada) regardless where the account is.