I have foreign owned property that I inherited from my grandmother. It’s just sitting there (i.e. house). It’s worth around 100,000 dollars Can.. Should i declare it if it’s just sitting there and I have never rented it or made any money from it all.
I did read somewhere that I only have to declare if I’m making money for rent etc. But it’s not the case for me, so am I obliged to declare.
any help or pointers to sources of info would be greatly appreciated.
(Note: I’m in the process of selling it this year. And the real estate agent told me I’ll be able to get about 105,000 Canadian dollars).
Declaring foreign owned property that is worth around $100,000.
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Hello everyone,
I have foreign owned property that I inherited from my grandmother. It’s just sitting there (i.e. house). It’s worth around 100,000 dollars Can.. Should i declare it if it’s just sitting there and I have never rented it or made any money from it all.
I did read somewhere that I only have to declare if I’m making money for rent etc. But it’s not the case for me, so am I obliged to declare.
any help or pointers to sources of info would be greatly appreciated.
(Note: I’m in the process of selling it this year. And the real estate agent told me I’ll be able to get about 105,000 Canadian dollars).
thanks
Wenceslaus