Filing taxes as Dual Citizen with a rental property & living in Australia permanently

Question

2802 viewsFebruary 8, 2017

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Anonymous Posted February 8, 2017

Hello, I was unsuccessful in selling my home before departing Canada & as result rented well below market in exchange for minor property care taking.

I have not reported the property or monies on my Aussie taxes which is under 10k annually with less than 50k equity. I have not filed my Canadian taxes since departure and hoping to sell the property & finalise taxes in Canada.

As this attracts many implications my question is would I have to only declare the property gains/loss on my Aussie tax or both ?

PS I have not completed the NR73- determination of residency status

Does your firm handle personal income tax filing for Canada & Australia?

1 Answer

score 0 · Answer 1 · 2017-02-09T21:31:59+00:00

Firstly, you should file a departure tax return with the CRA to establish that you became a non-resident of Canada upon leaving to AU.

Secondly, you are supposed to remit a monthly tax equal to 25% of the gross monthly rents collected to the CRA. You can recover all or part of this tax by filing a non-resident rental return (Section 216) with the CRA.

We can help you with both points above. I am unable to file a local return with the AU tax authorities.

Filing taxes as Dual Citizen with a rental property & living in Australia permanently

1 Answer

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