Personal Finance

Income tax for returning residents

  • Last Updated:
  • Mar 4th, 2014 12:02 am
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[OP]
Newbie
Jul 4, 2008
46 posts
2 upvotes

Income tax for returning residents

My parents moved back from Canada to China in 1998. My dad got a job there in an accounting firm. His job is not associated with any Canadian entity.

My parents bought a house here in Jul 2013. They plan to move back to Canada at end of 2014. I've been reading forums and some say if you own a property in Canada you would be considered a resident and would have to pay income tax!

Is this true? Would they be paying for the income they made in China in 2013?? Should I get an accountant's help?!
2 replies
Deal Expert
Aug 22, 2011
30023 posts
15869 upvotes
Ottawa
Never herd of paying income tax for owning a house, unless its a rental property and you are receiving rent?

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