Quote:
Originally Posted by calgaryguy
The time to get the value right is now while you are getting title.
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i agree. i've bought and sold and bought again. don't let anyone pressure you into a lower declared value by saying, "everyone does it" because the truth is that a lot of people do it but by no means does everyone do it. as others have advised, it will only increase the amount of capital gains that you'll have to pay when you or your heirs eventually sell.
i've heard some rumours that the capital gains exemption currently in place for certain resident foreigners will not exist in the future, so it's extra super duper important to get the true amount listed when you receive your title. even if that's a false rumour, it doesn't mean it won't eventually happen.