Moving back to Canada

caniwi di
New Member



Joined: 21 Apr 2008
Posts: 4
Location: Auckland

Posted: Mon Apr 21, 2008 6:11 pm

 

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I'm considering moving back in the next year or so. Have loved my new home in NZ but my parents are getting on and I feel the heart strings pulling me back.

Any tips on moving back?
ie.
- cost of moving a house full of stuff vs starting over in Canada?
- will I be taxed on any money I bring back? I have a house here I would sell. Capital gains is not taxed in NZ and I believe we have a treaty with Canada to prevent double taxing.
- I'm considering Southern BC or Alberta. Should I buy a place ahead of returning? Would that save on taxes?
- I haven't been a resident in Canada for 7 years and need to renew my passport - should I do this before I get back?

Any info would be appreciated.
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Diane

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Kiwi
New Member



Joined: 09 May 2008
Posts: 2

Posted: Fri May 09, 2008 3:26 pm

 

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Hi Diane,
We are facing a similar situation would be keen to trade notes and see if we can help each other with info. Would you be keen to e mail as opposed to doing it through this forum?

Cheers
Kiwi Family

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caniwi di
New Member



Joined: 21 Apr 2008
Posts: 4
Location: Auckland

Posted: Wed May 14, 2008 2:04 pm

 

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Certainly - would appreciate sharing tips. I've only started looking into things.
You can email me at diane.sharpe@xtra.co.nz. From there I may give you my work email as I check it more often.
Cheers
_________________
Diane

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Steven
CanuckAbroad VIP



Joined: 28 Sep 2007
Posts: 1112
Location: Calgary

Posted: Wed May 14, 2008 9:34 pm

 

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It will be cheaper to move the stuff unless your stuff is total crap, but on the other hand, it's not cheap either. I recommend using a door-to-door service with a container, that's the most expensive way but you get what you pay for.

I don't recommend moving during the winter, especially if you're moving to Alberta, they leave these containers outside in -25 and that can damage your stuff.

Any money which is simply in a bank account is not taxed when you exchange it or move it to Canada. It's a capital transfer. If it's invested in something and you become resident in Canada and then realise a capital gain on it, you will be taxed in Canada on the capital gain, which is 15%.

Buying a house in Canada before you sell your principal residence will make your second home subject to capital gains tax on the gain during the period before it becomes your principal residence.

You probably do need your passport to enter Canada as a returning resident as you need proof of citizenship. (There are alternatives but I doubt you would have any of them).

You'll need CBSA Forms B4 and B4A for your inventory, in order to enter it into Canada without being charged duty.

Not sure what you do for a living, but the job market is better in Alberta than BC at the moment, IMO. The drop in the housing market in the US is hurting the BC lumber market, and that's so large it's going to cause problems in BC I reckon. Whereas oil is $124 a barrel.
_________________
Steve.

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calgarykiwi
New Member


Life is Great!

Joined: 22 Apr 2008
Posts: 2
Location: Auckland

Posted: Fri May 16, 2008 5:30 pm

 

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Great to see a post from Calgary! We moved from Calgary to Auckland and we are now considering moving back as we are homesick for family, friends and "all things Calgary". It appears that the sales of homes has slowed down considerably, Health Care is free starting Jan 1st/2009 and jobs are still plentiful. Might be a great time to return!?
How do you think Calgary is doing?

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