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annecoo
Returning Member

I emigrated out of Canada - where do i declare deemed disposition of foreign property?

 
1 Reply

I emigrated out of Canada - where do i declare deemed disposition of foreign property?

Hello,

 

According to the Canada Revenue Agency (CRA), on your tax return, you'll need to report your capital gain (or loss) from your deemed disposition. It can be calculated by using Form T1243, Deemed Disposition of Property by an Emigrant of Canada. Then include on Schedule 3, Capital Gains (or Losses), the capital gain (or loss) that you reported on Form T1243.

 

For more information, please visit the CRA website: Dispositions of property or Leaving Canada (emigrants)