Really hoping I can get some ideas on the best way forward here.
I'm selling a home that I've owned for 8 years and lived in for 6 of those. In 2015 I left Canada to travel and to visit family in Europe. I've been back to Canada since then, a couple months of times.
I can't tell what kind of resident I am. I haven't made any employment income, either in Canada or elsewhere. Am I still a factual resident for tax purposes? When I sell the home I understand that I need to get a certificate and some of the funds will be withheld. But that only seems to be the case if I'm considered a non-resident, and since I still have the house, and bank accounts, I do not think that's me.
Finally, last question. While I've been away I've had various people stay at my house; friends, family, house swappers. Sometimes it's been vacant. Is this an issue that will impact the sale and the taxes? The home is not really my primary residence anymore, but I still get mail there and had the utilities in my name.
Any wisdom on what to expect with all this would be very appreciated.
It's possible that I can return to Canada to finalize the sale, but I'll only do this if it is worthwhile and there are advantages. I can take up residency in the house as well, it will be vacant within a few weeks.
Ideas? Comments?
Guidance on selling home from overseas
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Re: Guidance on selling home from overseas
Are you a Canadian citizen? Landed immigrant? It's not clear to me what you can possibly do for a living to support yourself and pay ongoing operating expenses for the house if you do not have employment/business income of some kind.
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Re: Guidance on selling home from overseas
Have you been filing Canadian tax returns in recent past?TimeToExplore wrote: ↑10 May 2017 17:56 I can't tell what kind of resident I am. I haven't made any employment income, either in Canada or elsewhere. Am I still a factual resident for tax purposes?
finiki, the Canadian financial wiki
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
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Re: Guidance on selling home from overseas
I'm a Canadian citizen and the last tax return I filed was for 2014. I've lived off of work I've picked up while away, savings, and friends/family/church. I swapped homes with a couple that travelled to Canada, I stayed in their place and they stayed in mine.