hi all,
i am new to this forum and have no yet looked around but here is my situation:
I am australian and my wife is canadian. We have lived in Aus for approzimately 10 years and are going to move back to canada. We are going to sell our house in aus
My question is:
With the house money, i know it non taxable in australia being my primary residence but what happens if i transfer it to our canadian bank account? Will it be classed as income over there? I am i better off investing in aus and paying the tax on the income and can i then transfer the australian after tx income to canada without any further taxes in Canada?
Hope this makes sense and hopefully someone has been in a similar situation
thanks
i am new to this forum and have no yet looked around but here is my situation:
I am australian and my wife is canadian. We have lived in Aus for approzimately 10 years and are going to move back to canada. We are going to sell our house in aus
My question is:
With the house money, i know it non taxable in australia being my primary residence but what happens if i transfer it to our canadian bank account? Will it be classed as income over there? I am i better off investing in aus and paying the tax on the income and can i then transfer the australian after tx income to canada without any further taxes in Canada?
Hope this makes sense and hopefully someone has been in a similar situation
thanks