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Jan 2008 - Acquired property for $100k outside canada Jan 2010 - Became Canada resident. Market Value $150k Assume Jan 2014 - Emigrated from Canada (less than 60 month so no deemed disposition) Market Value $160k Jan 2016 - Returned to Canada. (Market value of property $200k) In Jan 2016...

This only applies if I bought property after I became resident of Canada, for new immigrants its the face market value when they become resident. Something CRA considers as deemed disposed and reacquired.

Thanks for pointing that out. Luckily for me I am talking about property before becoming resident. So would CRA be considering 28 months or 20 months?

Theoretically CRA considers you as resident till you sever ties with Canada and are responsible to report world income on tax returns. I believe this assumption is for two years even though you don't have physical presence. I am not a tax professional my above knowledge is based on reading I...

Generally, when you’re no longer a resident of Canada, you are deemed to dispose of all property owned at that date, with specific exceptions. One of the exception being short-term residents of Canada (i.e., resident for no longer than 60 months in the 10-year period before emigration) My...

How does Capital Gain gets calculated for foreign under construction property that was bought before becoming resident of canada and was completed after becoming resident of Canada ?

Before becoming resident of Canada I had bought a condo in an under construction building in my home country, now that I became resident I intend to use it as my vacation home/personal property, (once construction is completed). My questions 1) As per what I read I don’t have to inform CRA of...