Serbinski Accounting Firms

Hi, as to the deemed disposition, can I add deemed realtor and lawyer's fee on top of the fair market value in calculating the deemed capital gain/loss? Thanks!

Hi, I used to be a non-resident and became a resident last year. Have a rental property switched to principal residence. It will be a deemed disposition. The land value decreased, but the building value increased a lot per the provincial assessment. If using the initial building/property ratio, the ...

File Section 216 for deemed non-resident rental income.

Good to know this. Thank you so much.

I claimed CCA in rental and I am preparing to pay the capital gains tax. It is fair and I have no problem with it. If the property is neither an investment property nor a principal residence after half of the family moved in, I am just curious to know what status of this property when we eventually ...

I have been thinking hard about moving back to Canada next year. Today I have another question coming into my mind. If we all move back as a family, obviously the rental property will be our principal residence. But the situation is a little bit unusual. Due to the employment contract issues, the sp...

Thank you for your explanation. I claimed CCA, so I think I can't defer the capital gain tax.

You are right Section 45(3) could be filed when actual selling the property. As to the mortgage, just save hard and have a big down payment, the Canadian bank will need 3 years notice of assessment from your local tax authority before approving the mortgage.

Sorry, I posted to the wrong place and have re-posted to the tax forum.

I am a Canadian non-resident working overseas, bought an investment property during this period. Now I am planning to return to Canada and will change the rental property to Principle residence. There is some price appreciation. I understand there will be a deemed disposition and re-acquisition of t...

I am a Canadian non-resident working overseas, bought an investment property during this period. Now I am planning to return to Canada and will change the rental property to Principle residence. There is some price appreciation. I understand there will be a deemed disposition and re-acquisition of t...