Hi,
I am now on my work permit and waiting for my PR. I planned to sell my apartment back home and buy one in Canada after landing.
My concern is how to determine the "earned income" from selling the apartment? I bought it six years ago and never rented it out, therefore I am not aware of the value of it when I first become a taxation resident two years ago.
Honestly speaking, it will be a pain in the arse if selling the apartment means paying high taxes, and doesn't help me get a better living condition in the end.
I am now on my work permit and waiting for my PR. I planned to sell my apartment back home and buy one in Canada after landing.
My concern is how to determine the "earned income" from selling the apartment? I bought it six years ago and never rented it out, therefore I am not aware of the value of it when I first become a taxation resident two years ago.
Honestly speaking, it will be a pain in the arse if selling the apartment means paying high taxes, and doesn't help me get a better living condition in the end.