If I sell my investment property in USA, do I need to pay any tax to Canada?

gimegime wrote: ↑ Property was used for rental , property was in a location mainly attractive to Norwegians, didn’t gain much appreciation. Want to use the proceeds of the same in west coast for another investment.

I am not intending to take the profit back to Canada.

In this case, do I need to pay any tax to Canada?

Smiley22 wrote: ↑ It is considered foreign investments so you still are required to report the gain against your income tax.

burnt69 wrote: ↑ Not only do you need to report the sale, but you might need to do a voluntary disclosure if you weren't reporting the ownership of foreign property on the appropriate form as required on taxes. Or face the consequences of failing to file the T1135.

KAN wrote: ↑ What if it is owned by a corp you control ? How does the filing or reporting goes ?

eonibm wrote: ↑ If you didn't have to pay tax on your worldwide income as a Canadian then we'd all only be investing outside the country!

eonibm wrote: ↑ If you didn't have to pay tax on your worldwide income as a Canadian then we'd all only be investing outside the country!

canoek wrote: ↑ What if you're not a resident of Canada? Do you still have to pay taxes in Canada?