We payed to have the vacation home built in the Bahamas in 2012. We may sell the home soon. Do we need to report the sale to CRA? Do we pay capital gains although the home is not in Canada? The CRA always asks us to report foreign investments over $100,000 but only if it is not personal use, so I have never reported that we built the home in the Bahamas. We spent $165,000 in U.S. dollars to build it. It is worth about the same amount now.
