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 while returning what deemed value will be considered.
$150k(Based on first time one became resident)
$200k(Based on time one is returning to 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 while returning what deemed value will be considered.
$150k(Based on first time one became resident)
$200k(Based on time one is returning to Canada)