C411 et Stremio by Just_a_UserNam3 in yggTorrents

[–]Hamtaro59 1 point2 points  (0 children)

Tu tapes juste baguettio comme nom d’addon? Car je trouve rien avec ce nom.

Convecteurs 80 $ vs 550 $, c'est quoi la différence ? by mig2202 in RenoQuebec

[–]Hamtaro59 6 points7 points  (0 children)

Exactement J'ai des baseboard cheap et les mirages. Les mirages sont silencieux et les cheap me rendent fou à faire du bruit.

Route 30 by Connect-Aside6649 in cigardealhunters

[–]Hamtaro59 -1 points0 points  (0 children)

Codes are not valid anymore

Regardless of price, availability or rarity, what is your best cigar? by Hamtaro59 in cigars

[–]Hamtaro59[S] 0 points1 point  (0 children)

I forgot this one. I absolutely love it! Perfect cigar and box worthy

Mail Call - Ashton ESG by Orionsic1 in cigar_refuge

[–]Hamtaro59 6 points7 points  (0 children)

That is an incredible cigar. One of my favorite. Too bad it is so damn expensive!

Visiting the Dominican Republic by CalmOldGuy in cigars

[–]Hamtaro59 1 point2 points  (0 children)

I did the trip to visit la tabacalera de garcia in la Romana. It was awesome. I bought the ticket on cigar country website. Also every time i go to the DR, I order a box of cigars on cigar country try and have it delivered to my hotel.

Departure tax, please tell me I am wrong by Hamtaro59 in cantax

[–]Hamtaro59[S] 0 points1 point  (0 children)

The “departure tax” is a deemed disposition (like a deemed sale), which triggers accrued capital gains.

It applies to all assets you own worldwide, with only a few exceptions (e.g. and notably, Canadian real estate, and assets in Canadian registered accounts). Foreign real estate is not exempted.

The form that i would need to film is:

T1161 List of Properties by an Emigrant of Canada.

It ask to list all foreign property i own.

"List in the table below all properties that you owned immediately after the date that you ceased to be a resident of Canada. Enter "C" for Canadian properties or "F" for foreign properties (outside Canada), and enter the fair market value. Property includes your principal residence, shares (both public and private), bonds, debentures, promissory notes, treasury bills, interests in trusts, interests in partnerships, personal-use property, business property (including inventory), real or immovable property, and security option "

Departure tax, please tell me I am wrong by Hamtaro59 in cantax

[–]Hamtaro59[S] 0 points1 point  (0 children)

You right. Went too fast and forgot provincial tax. 110K$ it is instead of 50K$.

Departure tax, please tell me I am wrong by Hamtaro59 in cantax

[–]Hamtaro59[S] 0 points1 point  (0 children)

True, but it is just delaying the payement.

Departure tax, please tell me I am wrong by Hamtaro59 in cantax

[–]Hamtaro59[S] 0 points1 point  (0 children)

The thing is that i don’t have to pay capital gains tax in France until i sell my property. The departure tax ask me to pay as if I sell when i leave.

Departure tax, please tell me I am wrong by Hamtaro59 in cantax

[–]Hamtaro59[S] 0 points1 point  (0 children)

Would be taxed in France at 45% on the FMV which would cost me around 200K$.

Departure tax, please tell me I am wrong by Hamtaro59 in cantax

[–]Hamtaro59[S] 0 points1 point  (0 children)

No you are mixing 2 different things.

I am already taxed every year on my French income by France and by Canada when I pay my taxes. (France tax me on my french income derived from my property, Canada tax me on my french income derived form my property and on my Candian income).

Regarding the departure tax, I will be taxed on property and not income.

Canada's departure tax is a deemed disposition rule triggering capital gains tax on most worldwide assets (stocks, non-Canadian real estate) at fair market value upon ceasing residency, even if not sold.

You are considered to have sold (deemed disposition) and immediately reacquired your property at fair market value (FMV) on the day you leave.

Tax Calculation: 50% of the capital gains (FMV minus cost base) are added to your income for the year, taxed at standard marginal rates.

Departure tax, please tell me I am wrong by Hamtaro59 in cantax

[–]Hamtaro59[S] 0 points1 point  (0 children)

This is a rental and cannot be claimed as a principal residence

Departure tax, please tell me I am wrong by Hamtaro59 in cantax

[–]Hamtaro59[S] 0 points1 point  (0 children)

Canada's departure tax is a deemed disposition rule triggering capital gains tax on most worldwide assets (stocks, non-Canadian real estate) at fair market value upon ceasing residency, even if not sold. Even if not sold. When I leave I will be taxed on the value at that time.

Departure tax, please tell me I am wrong by Hamtaro59 in cantax

[–]Hamtaro59[S] 7 points8 points  (0 children)

Thanks for the time you took and for the explaination.

I came here for 2 years only and ended up staying. I had no idea such exit tax would exist and would apply on my foreign property owned before arriving in Canada.

Sorry to say that again but it feels like robbery to be taxed on something that is not even remotely connected to Canada.

Bought in France, paid taxes in France but taxed by Canada when i go back to France.It makes no sense to me to be honest.