You are correct, -singapura(江枫漁火) @佛州华人论坛:佛州枫下论坛 The Rolia Forum of Florida

You are correct,

singapura(江枫漁火)

Peter. I didn't know the tax rule only until I started researching it. So do not buy a home in the US before you sell you home in Canada, otherwise your home in Canada will not be your primary home anymore after you bought your US home. Also you must indicate your move to the US was for employment, it is true for most of us anyway. Also I read the US-Canada tax treaty, IRS should only consider capital gain at the FMV (Fair Market Value) when you left Canada (same for CRA). This is not said clearly in IRS rules, but it's in the US-Canada tax treaty.

(#10021878@0)
Last Updated: 2016-3-31
This post has been archived. It cannot be replied.

我想是CRA不相信你的售价低于购买价，因为加拿大的房子这几十年来一直在疯狂的涨，全世界都知道，而你的房子却低于购买价，好像很难让CRA相信的. -tianshang(Tianshang); 2016-3-23 (#10008773@0)

这种情况，请问楼主是否还要在美国交一大笔税，即使是Capital loss. 我有个朋友， 2010年买， 2014年在搬到美国后卖，结果IRS说， 2010年加币高，2014年加币低，二者汇率差算作Capital gain. 楼主有碰到吗？ -sagitarv5(sagitar); 2016-3-29 (#10016992@0)

说反了吧？2014年加币更不值钱，不就是loss吗？ -zynrl(Nike); 2016-3-29 (#10017402@0)

我也是这么认为的，但是这位朋友是实实在在的被美国这边税务局砍了一刀，交了几万块的。 -sagitarv5(sagitar); 2016-3-29 (#10017418@0)

天那，我们也会遇到这样的问题啊！关注中！ -tyra(笨Tyra); 2016-3-29 (#10017451@0)

卖价低于买价的问题？ -kakaka(小胖子); 2016-3-29 (#10017571@0)

不是，我们有房子，以后会卖的。 -tyra(笨Tyra); 2016-3-30 (#10019891@0)

You will have to pay capital gain to CRA, -singapura(江枫漁火); 2016-3-30 {220} (#10019958@0)
but capital gain is calculated from the year you became non-resident or deemed non-resident (basically the year you left Canada). Capital gain exemptions only apply to Canadian residents, don't count on these exemptions.
Ask me when you need to sell your home. I studied all Canadian and US tax rules on that matter. I sold my home last year and filed tax DIY. -singapura(江枫漁火); 2016-3-30 (#10019960@0)

@江枫渔火，可以请教一下， IRS向我上面说的那位朋友收税是以什么依据和计算方式吗？我和他不是很熟悉，所以不大好继续追问详情。如果方便，请指点一下。谢谢！ -sagitarv5(sagitar); 2016-3-30 (#10020473@0)

I don't know about his specific case. Each case is unique. We cannot know unless we know the specifics. -singapura(江枫漁火); 2016-3-31 (#10021890@0)

我是买房后不到一年就卖了，为了尽快卖掉，卖价略低于买价，算上commission paid，loss了很多，而且卖的时候汇率比买的时候也低 -gtus2014(gtus2014); 2016-3-30 (#10019877@0)

You are right. You get back the withhold by filing tax return. But you should have already applied for certificate of compliance before or within 10 days of the house sale, -singapura(江枫漁火); 2016-3-30 {139} (#10019952@0)

even if you didn't have any capital gain, didn't you? when you file your tax return, you will need to attach the certificate of compliance.

那要是以后不回加拿大这钱就要不回来了？ -tyra(笨Tyra); 2016-3-30 (#10019955@0)

No, -singapura(江枫漁火); 2016-3-30 {377} (#10019965@0)
you will get back most of the withhold 25% of the sale price. Tax will not be so much. It is 25% of the taxable capital gain (50% of the capital gain is taxable). So if you sold your home for 1 million, CRA withhold 250,000, but you will only need to pay 25%x(1million-0.5million)x50%=62500, assuming your capital gain is half million. So you will get back 250000-62500=187500.
Don't worry too much. Capital gain starts from when you left Canada, not when you bought your home. -singapura(江枫漁火); 2016-3-30 (#10019968@0)

谢谢你啊。我记住你了！ -tyra(笨Tyra); 2016-3-30 (#10020035@0)
but you also have to file tax for the Capital gain to IRS -peteryu(雾水); 2016-3-30 (#10020061@0) +2

Well, -singapura(江枫漁火); 2016-3-30 {84} (#10020270@0)
that depends. Please study the US capital gain exemption. I don't want to tell here.

even CRA also suggest you need to file capital gain from property sale. The only track : if the house was used by your personal at least 2 years in the past 5 years before you sale it, -peteryu(雾水); 2016-3-30 {233} (#10020576@0)
you can exclude up to 50w of gain from your income under US XXX regulation (they consider this home to be your primary home). But if you were no longer meet this rule (2 years/5 years), you will be charged big tax for the gain by IRS

Yes, -singapura(江枫漁火); 2016-3-31 {620} (#10021853@0)
you are right, Peter. Sure you can report to IRS. But when there is no capital gain or capital gain is less than your exemption amount, you don't have to report. You will know it if you have done tax filing with TurboTax or other tax filing software. Only if you do have a net capital gain after exemption, you have to report. The 2 years of use in 5 years tax rule is not set in stone. It allows you to prorate exemption based on your years of use. For example, if you only used 1 year in last 5 years, you will still get some exemption, may be half of 250000. If you use tax return software, it will calculate for you.
You are correct, -singapura(江枫漁火); 2016-3-31 {554} (#10021878@0)
Peter. I didn't know the tax rule only until I started researching it. So do not buy a home in the US before you sell you home in Canada, otherwise your home in Canada will not be your primary home anymore after you bought your US home. Also you must indicate your move to the US was for employment, it is true for most of us anyway. Also I read the US-Canada tax treaty, IRS should only consider capital gain at the FMV (Fair Market Value) when you left Canada (same for CRA). This is not said clearly in IRS rules, but it's in the US-Canada tax treaty.

In the case of the subject poster, he will get back all the withhold by filing tax return since he does not have a capital gain at all. -singapura(江枫漁火); 2016-3-30 (#10019971@0)

借此请问一下非税务居民的问题 -bubbl3tea(fairy); 2016-3-30 {55} (#10020014@0)

请问如果在加有一套自住房，还能申请加拿大非税务居民吗？

of course you can and you should, otherwise you will have to report world income to CRA. Also most likely you already are even if you don't claim. As non-resident, you will only need to report incomes generated from Canada, not world income. -singapura(江枫漁火); 2016-3-30 (#10020254@0)

是不是只要你居住到其他与加拿大有税务协定的国家，就算不申请非税务居民，也认可为非税务居民。但是如果居住到与加拿大无税务协定的国家，如中国，就算申请非税务居民，也不认可为非税务居民（因在加有自住房）？这是我看了CRA网站后的理解，可能错了，英文实在绕口。 -bubbl3tea(fairy); 2016-3-30 (#10020535@0)

I don't know about living in China. But my understanding is non-resident status is not related to tax treaty. It is determined by where do you live for the most of year. If you live outside of Canada for the entire year, -singapura(江枫漁火); 2016-3-31 {205} (#10021827@0)
then you are a non-resident. If you live outside of Canada for most of year, even if you lived in Canada for some time, you are deemed non-resident. Having a home does not disqualify you as a non-resident.

To answer your question directly, -singapura(江枫漁火); 2016-3-30 {333} (#10020316@0)
having a principal home does not disqualify you from being a non-resident. A lot of people file tax return as non-resident even if they have a home in Canada. Of course, you can still claim you are resident as you have a home, then you pay tax or more tax to CRA. A lot of people misread the ties to Canada statements on CRA website.

谢谢，太专业了，还可以练英文。 -bubbl3tea(fairy); 2016-3-30 (#10020394@0)

我的意思是我英文不太好，读您的贴还可以练英文。 -bubbl3tea(fairy); 2016-3-30 (#10020402@0)

The only reason I type English is I don't have Chinese input on my computer and also I don't want to use Pinyin as it is so slow and so inconvenient. -singapura(江枫漁火); 2016-3-31 (#10021842@0)

我理解你。用iPhone打中文就容易多了。 -tyra(笨Tyra); 2016-3-31 (#10021845@0)
无论如何都很谢谢你给我们大家的这么多专业的回答，我也是有很类似的情况，看了你的回答明白了许多。 -sherry3183(sherry); 2016-5-2 (#10081303@0)

@Florida

You are correct,

Replies, comments and Discussions:

More Topics