# Sell house in Belgium, pay taxes in Canada?



## EVHB (Feb 11, 2008)

At the end of August we will land in Canada and become permanent residents.
But in Belgium we still have a house that isn't sold yet. Do we need to pay taxes in Canada if our house got sold in Belgium? We will need to transfer the money to Canada eventualy, because we would like to buy a house in 2011 or 2012.


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## Auld Yin (Mar 10, 2009)

EVHB said:


> At the end of August we will land in Canada and become permanent residents.
> But in Belgium we still have a house that isn't sold yet. Do we need to pay taxes in Canada if our house got sold in Belgium? We will need to transfer the money to Canada eventualy, because we would like to buy a house in 2011 or 2012.


Under Canadian law if you sell your Belgian house while *owning* a house in Canada you will be liable for Capital Gains tax. If you're renting in Canada then no such tax is levied.


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## EVHB (Feb 11, 2008)

The first 12 to 24 months, we would like to rent. That will give us the opportunity to get to know the GTA better.
So no problem with Canadian taxes if we sell our house a few months after landing.
Thanks, Auld Yin!


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