eMail Article To a Friend View Printable Version

selling house after transfer - David Ingram gives expert income tax & immigration help to non-resident Americans & Canadians fro

QUESTION: We bought a home in Kamloops in 1997 in a transfer with my job from Ontario to BC. I had a five year contract. My five years ended in September 2002 and after we tried to sell the home, but were unsuccessful, we rented it with the intention of moving back when my job allowed. We found out that I could never get back to Kamloops so sold the home in 2007. Do my wife and I have to pay Capital Gains on this property or do the special circumstances referred to in T4037 apply to us and the disposition of this property? Thank you,