Property sales capital gain

[mustfirst123]

Hi,

I have two rental properties: Property1 & Property2 in B.C.

Property1 was my principal residence until 2018.

Property2 was rented out since I bought it (Investment property).

Which one should I say to save the most tax?

 

[Kaibigan]

Hi,

I have two rental properties: Property1 & Property2 in B.C.

Property1 was my principal residence until 2018.

Property2 was rented out since I bought it (Investment property).

Which one should I say to save the most tax?

Should you say what, exactly?

Anyway, can you tell us what is the immigration issue related to your query?

 

[Etoexcu]

I had a similar situation and sold a property overseas before moving. What helped with CRA was documenting everything—purchase price, sale price, dates, and any costs like realtor fees. I also showed the fair market value as of my landing date. For anyone selling high-end overseas properties like luxury villas marbella, expect CRA to ask for proof of valuation, so having that ready can save time later.