I am an Indian national working in Singapore for past 15 years as Permanent Resident. Recently got Canadian PR.
I have a huge amount of S$ in my Singapore CPF account and as Fixed deposits in India in NRE (Tax free) account. I will be landing in Canada by early next year.
Since I intend to retain my Singapore PR till its expiry 2025 or till I get Canadian Citizenship whichever earlier. I have a few questions to clarify:
- I intend to transfer all my S$ from Singapore to Indian NRE account by 2025. In that case do I need to declare and pay tax to Canada. If yes, start from which year?
- Since all these earnings are before I get Canadian PR (already taxed in Singapore) can I choose not to show when I file for Canadian Tax?