Tax implication on selling foreign inherited property
I inherited a foreign property approx. 8 years ago and at the time it was worthless, but now it's worth about 300k CAD. The property was basically sitting there collecting dust all this time and now a developer had approached me about buying the land. I never reported this property to the CRA because I was told I didn't need to. Anyways, my question is what are my tax implication if I would sell at 300k?