I landed in Canada and then returned to US to finish up the project I'm working on. In the meantime, I'm looking for job opportunities in CA. Now I got several questions I guess lots of people in this forum might also have:
1. For year 2004, I lived in US, do I need to file Canada tax return? I heard we don't need to. Is it correct?
2. I plan to move to Canada to settle down in the middle of next year. So for year 2005, do I need to file tax return for both US and Canada? For the Canada part, do I need to include the US income?
3. I will have to sell my house here in US, which has some capital gain. Is this capital gain taxable in Canada? If yes, how is the gain calculated? Is it calculated based on selling price - the price on the date I landed? What is the tax rate for long-term capital gain in Canada?
I'm doing research on internet and getting very confused. I hope some knowledgable people can shed some lights here.
Thanks.
1. For year 2004, I lived in US, do I need to file Canada tax return? I heard we don't need to. Is it correct?
2. I plan to move to Canada to settle down in the middle of next year. So for year 2005, do I need to file tax return for both US and Canada? For the Canada part, do I need to include the US income?
3. I will have to sell my house here in US, which has some capital gain. Is this capital gain taxable in Canada? If yes, how is the gain calculated? Is it calculated based on selling price - the price on the date I landed? What is the tax rate for long-term capital gain in Canada?
I'm doing research on internet and getting very confused. I hope some knowledgable people can shed some lights here.
Thanks.
