非税务居民楼花转让

Transfer of uncompleted property for non-tax residents

Non-tax residents cannot avoid paying taxes when selling houses and off-the-plan properties. If you can't get the tax clearance certificate in one day, you won't be able to get all the money for selling the house in one day. Many customers are confused about whether they are tax residents or non-tax residents, thinking that they are tax residents as long as they actively file tax returns. As a result, when the house is sold, the sale money is withheld by the lawyer, and they cannot get it back for a year and a half, or even have to pay for it for two years. I "flew" back to Canada to deal with taxes, which caused a lot of unnecessary losses. We recommend that you consult professionals to understand the rules and steps and maximize your benefits in the most worry-free way.
Tax Law S116 stipulates that non-tax residents selling investment properties in Canada must submit 25% of the mortgage sales price to the tax bureau, and your lawyer will be responsible for withholding it. Within 10 days after the transfer of the property, you need to apply to the tax bureau through your accountant for a tax clearance certificate (certificate of compliance), which will be used to approve the net income generated after selling the house. Once approved, the attorney will refund the remaining portion of the previously withheld amount. If you have more than one property to deal with, you will need to submit separate tax clearance applications. At the same time, you need to note that the application takes time, and the tax clearance certificate can take up to three months at the earliest. If you cannot obtain the tax clearance certificate on time, the lawyer will directly submit the 25% withheld to the tax bureau.

Of course, considering that expenses such as attorney fees will be incurred after the property is handed over, the seller can declare the fees to the tax bureau again before April 30 of the next year after the property is handed over and sold, to further reduce the net income, and Get the corresponding tax refund.

The entire process of various reviews and calculations, from selling the house to finally receiving the tax refund, is conservatively estimated to take at least one and a half years. Indeed, due to its large size, the system will appear clumsy during operation. But every step has its own significance. It is to serve more ordinary people more fairly and justly, and is finalized after discussions by all parties. If we step out of the victim's perspective and change our thinking, it is actually not difficult to find that if we follow the rules step by step, although it seems that we are taking a long detour, we are actually choosing the most time-saving, labor-intensive and cost-effective way (you can refer to Article here for more details).

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<tc>GST/HST Housing Tax Rebate</tc>