[kidco]

I have a question about the difference in tax implications (ie: how much more tax/fees/etc) between selling your house in the old country, as a resident still of the old country, vs. if you do it once you become a NZ resident.

I am Canadian, and the issue here regards if I sold our house in Canada after moving to NZ: what is the difference between doing this if we are still considered residents of Canada, vs. if we sell it once we become NZ residents? My understanding here is that one can not be dual residents - that is, for tax purposes. (Not to be confused with dual citizenship, which a is possible for Canada/NZ)

I guess that replies from Canadians (or former Canadians) will be most relevant, but I think too that replies from other people (US, UK, etc) would also be insightful, because I think that many countries tend to copy each other's tax policies to some extent. Plus, there's not too many Canucks like us on this list, methinks!

I look forward to hearing from listees about this, as I believe that selling the "old house back home" is a very common experience among members here. For us looking to come over to NZ soon, this is a very important question, as our house here is our only source of potential savings to bring with us (we're way in the red otherwise!)...

Cheers,

Kidco

[Sam B]

Well, we sold our house in the UK 3 months after we moved here, and we were residents here by then. There were no implications at all, just the usual estate agent's fees, no tax.

[Nick88]

There is no tax here when selling houses, so the house in question being overseas is of no consequence.