Non-residents are subject to tax on:
- Ìý
•ÌýÌýÌýÌý 50% of the capital gains from the disposition of certain specified Canadian assets, and
- Ìý
•ÌýÌýÌýÌý 100% of gains on dispositions of certain property such as resource property or certain life insurance policies.
The disposition of an individual's principal residence is exempt subject to certain rules. If, during the time the residence was owned, the taxpayer was non-resident, the non-resident period is pro-rated and is not exempt.
Canada also requires that the purchaser withholds and remits 25% (or 50% in some cases) of either the cost of the property acquired by such purchaser (and additional 12.875% if the property is located in the Quebec province) or if a certificate of compliance
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Web page updated on 28 Aug 2024 12:37