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We are wondering if / how the departure tax on capital gains may work in this scenario:
Married, home jointly owned. One of us still works and lives in Canada, is a Canadian citizen. The other is an Austrian citizen, got a job in the US and left Canada last year.
How will we be taxed if selling our primary residence if one of us is a tax resident and the other is not, living, taxes abroad?
It is our primary residence since 2019.
Will we need the T2062 form / declaration?
Or is it a tax exempt sale of a primary residence if one of the owners is a Canadian tax resident?
Difference between current and last years fair market value is likely low as home prices mostly declined in our town.
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- 9 months ago
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