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Forum: Canada

Nov 21st 2014, 7:41 pm

Replies: 20

moving back to Canada, question about tax after selling property in UK?

Views: 9,068

Posted By iaink

Re: moving back to Canada, question about tax after selling property in UK?

Just remember to:
Get a valuation on the property when you leave
Record the exchange rate when you leave

Then when the property sells its relatively simple to work out a gain or loss based on...

Forum: Canada

Nov 21st 2014, 7:02 pm

Replies: 20

moving back to Canada, question about tax after selling property in UK?

Views: 9,068

Posted By iaink

Re: moving back to Canada, question about tax after selling property in UK?

They dont care about taxing the assets, they care only about any change in its value, in $Cdn, after you take up residencyWhen you fill out your tax return, should there be a capital gain you should...

Forum: Canada

Nov 21st 2014, 10:36 am

Replies: 20

moving back to Canada, question about tax after selling property in UK?

Views: 9,068

Posted By iaink

Re: moving back to Canada?

You dont owe tax on what you built up in the UK. Taxes (if any) will apply only to any changes to your assets value after you resume Canadian residency.

Forum: Canada

Nov 20th 2014, 11:15 pm

Replies: 20

moving back to Canada, question about tax after selling property in UK?

Views: 9,068

Posted By iaink

re: moving back to Canada, question about tax after selling property in UK?

The inventory list is your goods to follow list. It prevents you paying tax on your own stuff . There's a wiki for that too.

http://britishexpats.com/wiki/Goods_To_Follow-Canada

Forum: Canada

Nov 20th 2014, 11:07 pm

Replies: 20

moving back to Canada, question about tax after selling property in UK?

Views: 9,068

Posted By iaink

re: moving back to Canada, question about tax after selling property in UK?

Capital Gains Tax-Canada : British Expat Wiki (http://britishexpats.com/wiki/Capital_Gains_Tax-Canada)

http://britishexpats.com/wiki/Currency_Exchange_Gains_and_Losses-Canada

Forum: Canada

Nov 20th 2014, 11:05 pm

Replies: 20

moving back to Canada, question about tax after selling property in UK?

Views: 9,068

Posted By iaink

re: moving back to Canada, question about tax after selling property in UK?

There are a few threads here regarding CGT I think and others regarding exchange gains. From what you say as long as you can document the value of the property before and after you will be alright....

Forum: Canada

Nov 20th 2014, 9:02 pm

Replies: 20

moving back to Canada, question about tax after selling property in UK?

Views: 9,068

Posted By iaink

re: moving back to Canada, question about tax after selling property in UK?

Welcome to BE.

If its your primary residence you are selling and you sell it before you move to canada than it should be immune from capital gains tax, which as far as I know is the only tax that...

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