Left Canada- tax
 

Hi, do I need to file my final tax for this yr even though I didn't work for the whole yr.?
Thanks

Re: Left Canada- tax
 

Yes, if you earned enough to owe tax or want a refund of tax paid if you have not earned enough for the taxes paid to date.

Re: Left Canada- tax
 

Re: Left Canada- tax
 

I'm trying to read that, but my addled brain isn't coping. Do you have to pay a type of capital gains tax on property you sell when you leave? Does it make a difference if you sell before or after you actually leave the country?

Re: Left Canada- tax
 

When you leave Canada you are deemed to have sold all your assets and repurchased them at their fair market value. Therefore any capital gain that has occured while you were in Canada is realized and taxed. It is sometimes called the departure tax.

There are quite a few exceptions:

Re: Left Canada- tax
 

Thanks JonboyE, it sounds like it probably wouldn't apply to most folk with just their own house/car/belongings :)

Re: Left Canada- tax
 

Departure tax is only if you've been resident for at least 5 years.

Basically you just file a pro-rated tax return by April 30th of the following year, assuming you are over the reporting limit. Personally I would do it anyway so you can check the box that says you have departed Canada, otherwise the CRA don't necessarily know you left.

Re: Left Canada- tax
 

For those it applies to, selling after leaving Canada, their primary residence here, may no longer be considered primary and therefore subject to CGT.