You absolutely must declare it on your personal income tax form for the year it was sold in!
There is no tax on the sale but it has to be disclosed.
Here is the link to CRA which gives further information.
(Please read FULL POST for link below to be active)
http://www.cra-arc.gc.ca/gncy/bdgt/2016/qa11-eng.html
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http://www.cra-arc.gc.ca/gncy/bdgt/2016/qa11-eng.html
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