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I am a Canadian citizen. I have a small property from my country of origin. The value is less than CAD$100,000.

If I sell my property and transfer the money to Canada, is there a tax payment required? If so, what is the percentage I would owe in tax?

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  • It might be useful to know what country this property is in, and also the fact that it was an inheritance (as you mentioned in a comment on an answer). I've just proposed an edit to help your question be a little more readable plus add some tags; if you would like to add this additional information too please feel free!
    – Tim Malone
    Commented Jun 13, 2016 at 5:58

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Simply transferring money you own from overseas to Canada will not mean you need to pay tax on it. However if you sell property at a profit - I.e. sell it for more than you paid for it - you may have to pay tax on any gains. This is true whether or not you transfer the money to Canada.

Calculating the amount is quite complicated. You might consider getting a tax expert.

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  • Thank you for your reply. It is informative. I inherited the property from my parents so I do not know if a profit statement is applicable. Thanks again.
    – ajman
    Commented Apr 14, 2016 at 4:23

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