I am a permanent resident in Canada since Sept 2016. I owed the house in VN not for renting out. I left it for my brother and sister staying there taking care the house while I moved here. Should I declare it on T1135? If yes how can I determine its FMV of house back that date? Any suggestion for FMV Calculation?
Yes you would have to declare it on the T1135.
As for the FMV; this will depend on varying factors of your home back in VN which then needs to be converted to CDN$ for your tax return.
Fair Market Value is defined as the price that a willing and knowledgeable buyer would pay to a seller. An estimate of fair market value may be based on precedent or trending factors in VN.
Yes you would have to declare it on the T1135.
As for the FMV; this will depend on varying factors of your home back in VN which then needs to be converted to CDN$ for your tax return.
Fair Market Value is defined as the price that a willing and knowledgeable buyer would pay to a seller. An estimate of fair market value may be based on precedent or trending factors in VN.