British Expats

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-   -   Capital gains - when does it apply? (https://britishexpats.com/forum/canada-56/capital-gains-when-does-apply-922861/)

RKS_in_Calgary Mar 3rd 2019 3:51 pm

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

Siouxie Mar 4th 2019 11:00 am

Re: Capital gains - when does it apply?
 
https://britishexpats.com/wiki/Capital_Gains_Tax-Canada
:)

RKS_in_Calgary Mar 4th 2019 11:17 am

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.

Siouxie Mar 4th 2019 12:57 pm

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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