We are new residents to Canada (Feb 2018). We owned a condo in Canada as a non-resident - which we disposed in Oct 2018 - what are the Capital Gains implications?
I have read on the CRA site that property owned before residency is deemed to be disposed off at FMV (Fair Market Value) on the date that residency is established.
Does this rule apply to the condo?
Presumably this has an effect on the capital gains reported