My wife is a Canadian citizen living in the US for the past 23
yrs and I am a US citizen. This year we are planning to build a
house on a waterfront lot we jointly own on Pender ?? Island, BC
and retire, spending approx 6 months there and 6 months in
Mexico. If we were to sell the place, lets say in 5 years, and
I do not become a Canadian resident, would I be entitled to the
standard US capitol gains exclusion on the first 250,000 profit?
Would I pay Canadian tax on the gain? What would be the tax
consequences of the sale assuming I do become a Canadian
resident?
Thanks very much for your response,
-----------------------------------------------------------------
david ingram replies:
If you are a non-resident of Canada, your share of the lot and
cabin is subject to Canadian capital gains tax.
You are entitled to the $250,000 US personal residence exemption.
However, with your planned lifestyle, your wife will lose her
green card. In my opinion, she should become a US citizen,
before you embark on this adventure.
If you do become a Canadian PR (permanent resident) your sale of
the house would be tax free.
-------------
the following prior Q & A contains the paperwork necessary for
your wife to sponsor you as a PR of Canada.
------------------------------------------
QUESTION: Hi, I am a Canadain citizen and have been living and
working in
the USA for the past 12 years with a resident card ( green card).
I was
wanting to get my american citizenship and was wondering what
would happen
to my canadain citizenship. I am married to an american and we
would like to
move back to Canada but I wanted to get my american citizenship
to avoid
dealing with immigration in the future should we decide to retire
in the
south or something. Please let me know what happens. I was born
and raised
in Canada.
Thank-you
-----------------------------------------------------------------
----------
david ingram replies:
You do NOT lose your Canadian citizenship if that is the
question.
Then AFTER you have your US citizenship, you need to do the rest
as follows
to get your spouse into Canada:
-----------------------------------------
QUESTION: I'm a Canadian citizen and just got married. My wife is
a U.S.
citizen. I would like to apply for my wife's permanent residence
in Canada.
I would appreciate if you can tell me the process and how long
would it
take.
Thanks in advance
===========================================
david ingram replies:
You will have to decide on whether to apply from within or
without Canada.
Within would have her in Canada sooner but she can not work
unless he has a
work visa. If she has a university degree, she might qualify as
a
professional under Treaty NAFTA.
Basically to sponsor her, you need to fill in the following paper
work. At
the moment, it is likely taking up to 22 months and is processed
through
Buffalo New York
You can start the process by going to:
1. http://www.cic.gc.ca/english/pdf/kits/guides/3910e.pdf
This is a guide for sponsoring a US citizen spouse into Canada.
Publication 3910E
2. http://www.cic.gc.ca/english/pdf/kits/forms/IMM1344EA.pdf
This is the application form to sponsor - form IMM-1344A
3. http://www.cic.gc.ca/english/pdf/kits/forms/IMM1344EB.pdf
This is the sponsorship agreement - Form IMM-1344B
4. http://www.cic.gc.ca/english/pdf/kits/forms/IMM5481E.PDF
This is the Sponsorship Evaluation Form IMM-5481
5. http://www.cic.gc.ca/english/pdf/kits/forms/IMM5409E.PDF
This is a statutory declaration of a common-law marriage - FORM
IMM-5409
6. http://www.cic.gc.ca/english/pdf/kits/forms/IMM5540E.PDF
This is the Sponsor Questionnaire - Form IMM-5540
7. http://www.cic.gc.ca/english/pdf/kits/forms/IMM5476E.PDF
Use of a representative
7a. http://www.cic.gc.ca/english/pdf/kits/forms/IMM5540E.PDF
This is an authority to release information - FORM IMM-5540
8. http://www.cic.gc.ca/english/pdf/kits/forms/IMM5491E.PDF
This is a document Checklist - Form IMM-5491
9. http://www.canadapost.ca/tools/docp/CIC/bin/hpm-e.asp
This is where you order your official receipt
10.
http://www.cic.gc.ca/english/pdf/kits/forms/imm0008egen.pdf
This is your actual Application for Permanent Residence - FORM
IMM-0008GEN
11. http://www.cic.gc.ca/english/pdf/kits/forms/imm0008_1e.pdf
This is your Background Declaration - FORM IMM-008_1
12. http://www.cic.gc.ca/english/pdf/kits/forms/IMM5406E.PDF
This is your additional family information - FORM IMM-5406
13. http://www.cic.gc.ca/english/pdf/kits/forms/IMM5490E.PDF
This is your spouse or conjugal partner questionnaire -= FORM
IMM-5490
14. The Above PLUS a police report from your local police
station (See
the guide for details) applies to those being sponsored from the
UNITED
STATES. There is a separate brochure for every country. If you
are reading
this and are from any other country (Australia, Brunei, Austria,
Venezuela,
etc) goto
14 http://www.cic.gc.ca/english/applications/fc.html for other
country
guides.
15. http://www.cic.gc.ca/english/skilled/assess/index.html
This is the self-assessment test for an individual to determine
his or her
eligibility to immigrate to Canada without being sponsored by a
spouse.
I know this will help you make your decision. If we can help
you, remember,
that is what we do for a living. In particular you should goto
www.centa.com and click on and read US/Canada taxation BEFORE you
come.
Be ALERT, the world needs more "lerts"
Answers to this and other similar questions can be obtained free
on Air
every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of
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Disclaimer: This question has been answered without detailed
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and all non-contractual duties are expressly denied. All readers
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