Landing | Declaration of Immovable Property in Home Country

[ashishsharmadel]

I am seeking your guidance and input on the following

1) How do we declare "value" of the immovable property in Home country while landing in Canada on PR card
For instance, if I hold an apartment in India then what should I mention in declaration form so that I can bring the sale proceeds to Canada upon selling it in future

2) how do we determine the "value" of this property.... i.e. how would CBSA official determine the right market price of property I am declaring? do we need to obtain some document from India Govt confirming the value?

3) what other items we should declare while landing

4) what all supporting documentation is required

Thanks in advance for your help !

 

[steaky]

1) You don't declare the value of your immovable property in home country while landing in Canada. You report the value when you file your T1135 on your Canadian tax return;
2) Best if there is any government agency in your home country to valuate this property. If not, you might need to rely on information from realtors or valuation agencies;
3 & 4) Please read the settlers section of the CBSA website

 

[ashishsharmadel]

hmmm
thanks for sharing your inputs