Hi we are permanent residents of Canada..we will be filing income tax for first time..I have read on instructions on formT1135 that no need of declaring foreign property of personal use in this form.....1)so if we answer no to the foreign property question..and after 1-2 year we sell that property to buy house in Canada than we have to pay tax on that or not.....2) And when we will get property from our parents whether we have to pay tax on that gift or not
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