A couple of questions about withholding tax
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Thread: A couple of questions about withholding tax

  1. #1
    Junior Member
    Join Date
    Apr 2012

    A couple of questions about withholding tax


    1) If a non Canadian resident sells a property and withholding tax is applied, then is the amount that is withheld eventually given to the seller, or is it an actual tax on the sale and the cra keeps the full amount?

    2) My wife and I are joint owners of a residential property in Canada, if I am no longer a resident of Canada but she still is, then if we sell the property does that mean withholding tax would not apply due to her residency status?

  2. #2
    Senior Member
    Join Date
    Mar 2012
    Withholding tax is money held against the amount you may have to pay. Any extra should come back to you when you file income tax.

    There is usually no capital gains on a primary residence in Canada. If you are not living in the place, you are liable for capital gains if you are Canadian from the time when it wasn't your primary residence. I'm not familiar with the laws/taxes that apply to non residents though sorry.

    I'm not JustAGuy (without spaces), or Donald, or <insert name here>.

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