At what point in time does the income tax liability starts. If you have declared 'x' funds now, can you actually bring higher funds when you decide to reside in Toronto.

you start filing for tax as soon as you are a resident in canada. this has nothing to do with immigration status (pr, student etc). (if you do not have any income, like a full time student, you should still file in order to get the tuition credits and gst refund etc)

If you are filing for tax, you need to declare assets more than 100k

otherwise, you might face problems while moving the funds to canada at some point.

So, start filing for taxes !