A Canadian home rented after you moved abroad can carry a change-in-use gain, years of nonresident rental filings and a 50% holdback on the building. Learn which records matter before closing.
Tag: Section 116
Selling Your Former Canadian Home From Abroad: Principal Residence Relief and Section 116
A former Canadian home can still trigger a Section 116 holdback when you sell from abroad. See how much of the gain principal residence relief covers, how the certificate payment is calculated, and why the sale-year return matters.