Moving to Canada - should I declare all my Real Estate investments?

[lavatelasmanos]

I have 3 condos that I purchased in my home country back in 2015 2016 and 2018. 2 of them are not generating any rental income while the last one isn't even 100% built yet. They are worth 50k CAD each approximately.

My question is do I need to declare all of them when I obtain my PR in Canada? Since they're not generating any income can I claim them as personal use? I'm not planning to sell them at the moment but probably will in the next 10 years.

Also if I need to declare them when is the time to do so? Is it when I fill in tax return by filling in T1135 form?

 

[steaky]

Also if I need to declare them when is the time to do so? Is it when I fill in tax return by filling in T1135 form?

I don't remember if it's the first or second year of the tax return for filing T1135 form.

 

[jclarke99]

My understanding is that you can opt out of filing T1135 the first tax year (but double check that this option is still current).
Also, have you formed an LLC for your rental income? This can be disadvantageous once you are a resident of Canada, as this can lead to double taxation. Here's one source: https://madanca.com/blog/llcs-result-double-taxation-canadians/