Hi, I became a first time tax resident of Canada on 1st January 2017. From that point on, the house that had been my primary residence overseas since 2011 was empty, and was sold on 9th January 2017. From 1st January my primary residence was in Canada. The house overseas was never rented out, etc. while my wife and I lived in it. But from 1st to 9th January it was clearly no longer my primary residence.
How do I declare this on my 2017 Canadian tax return? I'm happy to take the position that I was deemed to acquire the house at FMV on 1st January, then dispose of it at FMV on the 9th; if so I'll make a notional loss due to the legal etc. costs of selling and exchange rate fluctuations. I'm fine with this, but is it correct in CRA's view?
How do I declare this on my 2017 Canadian tax return? I'm happy to take the position that I was deemed to acquire the house at FMV on 1st January, then dispose of it at FMV on the 9th; if so I'll make a notional loss due to the legal etc. costs of selling and exchange rate fluctuations. I'm fine with this, but is it correct in CRA's view?