Hi,
My Father has purchased a property to gift me in year 2011 in Pakistan. He passed away and I am planning to sell it and bring money back to Canada. The property was purchased under my name however the payment was made by my Father . The only proof that I have is the copy of bank draft issued from his personal Bank Account to pay for this property which was purchased in my name. In addition a copy of form completed by him to authorize his bank to issue that draft in favor of Seller is also with me. Can I bring this amount after selling the property as gift or inheritance into Canada? What are tax implications? Value is less than 100 K. I am not a tax payer in Pakistan and am Canadian Citizen with my taxes all paid here.
PS-
My apologize if I have posted in a wrong forum but it seems like very much close to my query and standard of responses seems very professional. Thanks in advance.
Tan B
Father Purchased a property in Pakistan in my name
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