Which date I become a non-resident

Hi,

I am moving to the US the last week of December, and I will sell my condo in January 2012 (I live in Montreal). Which date should I report as my non-residency? (Is it the date I leave Canada or the date I sell my condo?)

If I become non-resident in December and sell my condo in January, should I pay any tax (capital gain?) on my condo for my 2012 return?

Since you are moving to US, it is the day you establish a home in US, or when you sell, which ever is latest.

You won't have to pay cap gains on your condo as long as you sell it within 12 months of leaving canada.

I deal in more detail with this on forums.serbinski.com

Tanks for the reply.

Yes this is more logical. But T4056 is saying I become a non-resident the latest of: 1-I leave Canada 2-My wife leaves Canada, 3- I become a resident of the country I move to.
Are they restrict on this role or I can simply put the date on which I sold my condo, as my non-residency date on my 2012 tax return?

Today I called CRA, one of the agents told me about the grace period, but the other one in "International Tax Service Office" told me that there is no grace period and I have to sell my condo as a non-residence and if I fail to report this to CRA within 10 days of the sale, I will be penalized $25 per day after that,,., Is this correct?

CRA residence rules rules are overridden by treaty rules.
Selling and reporting the sale are 2 differnt things.


Did you get the part about moving this to serbinski? Ask there

I posted it there, my username is "mehran" over there too.
Thanks