Tax on Property money

[Immi52]

Can any expert advise me please, I have sold a property back at my native country recently and wired all the money in my USD account in RBC, I have declared this property at the time of landing about 2 years back but they did not put any stamp on the page. My queries are,

1) I made some profit, do I need to pay capital gain tax-if yes, how much
2) What sort of documents Canadian authority need to establish the profit as is almost all the cases in my native country, people depreciates the price inorder to give minimum taxes to the government.
3) I have filled 2 x tax returns in last 2 years but did not mentioned this property, is it an offense?, if yes what shall I do?

Please share your experiences.

Warm regards

 

[nekeol]

Can any expert advise me please, I have sold a property back at my native country recently and wired all the money in my USD account in RBC, I have declared this property at the time of landing about 2 years back but they did not put any stamp on the page. My queries are,

1) I made some profit, do I need to pay capital gain tax-if yes, how much
2) What sort of documents Canadian authority need to establish the profit as is almost all the cases in my native country, people depreciates the price inorder to give minimum taxes to the government.
3) I have filled 2 x tax returns in last 2 years but did not mentioned this property, is it an offense?, if yes what shall I do?

Please share your experiences.

Warm regards

for the first 3 years from PR no need to pay any taxes from outside property or bringing dollars to canada.

 

[Immi52]

Thanks a lot, Nekeol---Can you please share some document or a link which states the same, just want to make sure

Regards