What should I do when I have multiple properties and want to repatriate? How do I report the departure tax? How can I make better use of the tax exemption for self-occupied housing to save money legally when I have multiple properties? How can I designate a self-occupied housing when I have multiple properties? How do I calculate overseas assets? How do I declare overseas assets? How do I deal with overseas assets that I owned before I entered the country when I leave?
Welcome back to the Golden Key Real Estate Tax Channel. Previously, we talked about how after coming to Canada and becoming a tax resident, you need to declare overseas assets according to regulations. If you do not declare or under-report or over-report, you will be in big trouble later. Today I want to talk to you about the departure tax, which is a common tax that you need to declare when you plan to "return" and leave Canada. It is also related to real estate. When the protagonist of today's story, Mr. Lin, plans to leave Canada, what kind of advice will the accountant give him about the three properties under his name to maximize his reasonable and legal interests?
