Capital gains - when does it apply?
Mar 3rd 2019 | 3:51 pm
#1
Thread Starter
Forum Regular
Joined: Aug 2011
Posts: 264
From: Uk
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
Mar 4th 2019 | 11:17 am
#3
Thread Starter
Forum Regular
Joined: Aug 2011
Posts: 264
From: Uk
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.
Mar 4th 2019 | 12:57 pm
#4
Banned
Joined: Apr 2009
Posts: 19,878
From: SW Ontario
Re: Capital gains - when does it apply?
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
Last edited by Siouxie; Mar 4th 2019 at 12:59 pm.
