The valuation of your assets is determined on a reasonable basis, the CRA does not have a prescribed method.
Suggested methods vary by asset including:
- Shares and other assets traded on a public market: the closing value on the date you ceased residency
- Private company shares: Contact the company and request their valuation of the share. If it is a personal corporation, you may need to consult with the corporation’s accounting advisor.
- Real estate: A valuation from a real estate agent is ideal, however other reasonable sources of a valuation may be acceptable.