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Capital gains - when does it apply?
So we are considering returning to the uk. Likely I would travel back first with OH and child returning in the summer but wondering what triggers capital gains on our jointly-owned house in Canada. If we sell the house before OH returns but after I enter the UK, do we still have to pay capital gains? Thanks |
Re: Capital gains - when does it apply?
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Re: Capital gains - when does it apply?
Thanks Siouxie. I had read that post but it doesn’t answer my question about paying CG in the UK when I return, only what happens from a Canada tax perspective. |
Re: Capital gains - when does it apply?
Originally Posted by RKS_in_Calgary
(Post 12648031)
Thanks Siouxie. I had read that post but it doesn’t answer my question about paying CG in the UK when I return, only what happens from a Canada tax perspective. Ah sorry, misunderstood your question.. but you will have a liability here too don't forget, departure tax on your assets, so to speak. Canadian Departure tax Rules - Madan CA Calling JonboyE! This might help for the UK aspect: https://www.gov.uk/tax-sell-property...rseas-property https://www.gov.uk/government/public...-tax-liability |
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