For many years, Dakota Fox was a resident of Israel. However, in 2019, she concludes that she would like to move to an area with a cooler climate and accepts an employment position in Canada. At this time, her capital assets consist of a tract of Canadian land which she purchased on a previous visit to research living in Canada, and shares in an Israeli utility company. The land has an adjusted cost base of $125,000 and a fair market value of $200,000. The shares have an adjusted cost base of $85,000 and a fair market value of $115,000.
While she is in Canada, she acquires shares of a Canadian company, Grizzly Bare Inc. for $55,000. In 2021, after finding Canadian winters to be too severe, she decides to move back to Israel. At this time the values of her assets are as follows: What are the tax consequences of Dakota's emigration from Canada?

Question

For many years, Dakota Fox was a resident of Israel. However, in 2019, she concludes that she would like to move to an area with a cooler climate and accepts an employment position in Canada. At this time, her capital assets consist of a tract of Canadian land which she purchased on a previous visit to research living in Canada, and shares in an Israeli utility company. The land has an adjusted cost base of $125,000 and a fair market value of $200,000. The shares have an adjusted cost base of $85,000 and a fair market value of $115,000.
While she is in Canada, she acquires shares of a Canadian company, Grizzly Bare Inc. for $55,000. In 2021, after finding Canadian winters to be too severe, she decides to move back to Israel. At this time the values of her assets are as follows:  What are the tax consequences of Dakota's emigration from Canada?

Quizplus · Accepted Answer

The Answer of For many years, Dakota Fox was a resident of Israel. However, in 2019, she concludes that she would like to move to an area with a cooler climate and accepts an employment position in Canada. At this time, her capital assets consist of a tract of Canadian land which she purchased on a previous visit to research living in Canada, and shares in an Israeli utility company. The land has an adjusted cost base of $125,000 and a fair market value of $200,000. The shares have an adjusted cost base of $85,000 and a fair market value of $115,000.
While she is in Canada, she acquires shares of a Canadian company, Grizzly Bare Inc. for $55,000. In 2021, after finding Canadian winters to be too severe, she decides to move back to Israel. At this time the values of her assets are as follows:  What are the tax consequences of Dakota's emigration from Canada?

For Many Years, Dakota Fox Was a Resident of Israel