In Canada, new immigrants are required to declare their worldwide income and assets for tax purposes. The New Immigrant Tax Package, which has an additional fee of CAD $25, includes provisions for reporting foreign income sources, foreign assets, and exemptions specifically designed for individuals who have recently immigrated to Canada. This package ensures that new immigrants fulfill their tax obligations by disclosing income and assets obtained outside of Canada while also providing information on any applicable exemptions or special considerations for their unique circumstances as newcomers to the country.