Canada Visitor Visa Proof Of Funds
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Is the exchange slip which I will be receiving after converting the money called a convertible bank draft as highlighted on image?
No. Your currency exchange slip is a receipt, its proof that a transaction took place but nothing more.
A convertible bank draft is a cheque issued by the bank (commonly called a cashiers cheque, teller's check or bankers draft) which can be drawn on in any Canadian bank in Canadian currency - that is what it means by convertible, it needs to be able to be converted from the currency it was issued to the currency to be drawn, and not all bankers drafts can do that.
get paid mostly cash in hand to avoid taxes among others (dont judge)
Its worth noting that this is exactly why immigration officials ask for provenance of funds - they want to avoid money with this sort of background.
I don't know about Canada, but when applying for a UK visa, the UK immigration officer inspecting your case has to be satisfied of the legality of funds under the same UK laws as everyone else in the UK has to abide by, which means any earnings should have had tax paid on them to the extent required by domestic law in the applicants country etc.
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