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I saw you respond to a question on the turbotax community, I have a similar question.
While I was a non-resident for tax purposes and living abroad, I bought an internet domain for 3k. I returned to Canada recently and have became a Canadian resident again, I'm working and have already filed a tax return. So I guess we can say I'm re-established here in Canada. I recently sold that domain for 80k to someone abroad, am I subject to taxes?
The domain name has to be revalued to its market value on the date that you came back to Canada. The market value becomes the cost basis for Canadian tax purposes when computing the capital gain upon sale.
