Mrs. Lorna Rand owns a rental property in Calgary, Alberta with a cost of $175,000 and a fair market value of $315,000. The land values included in these figures are $52,000 and $70,000, respectively. The UCC of the building is $91,400. During the current year, Mrs. Rand permanently departs from Canada. What are the current and possible future tax consequences of her departure with respect to this rental property?

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The Answer of Mrs. Lorna Rand owns a rental property in Calgary, Alberta with a cost of $175,000 and a fair market value of $315,000. The land values included in these figures are $52,000 and $70,000, respectively. The UCC of the building is $91,400. During the current year, Mrs. Rand permanently departs from Canada. What are the current and possible future tax consequences of her departure with respect to this rental property?

Mrs Lorna Rand Owns a Rental Property in Calgary, Alberta