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As the number one resort destination in North America Whistler attracts many foreign and non-residents As a Non-resident owner you need to understand a few things to make sure that you are making the right decision to sell. Obtain a Clearance Certificate: You will need a Clearance Certificate from Revenue Canada prior to the completion date of your transaction. You may not apply for a Clearance Certificate until you have an accepted offer on your property. The current wait for a Clearance Certificate is 6 to 8 weeks. This is an important consideration in negotiating a Completion Date my team and I will make sure that you leave yourself enough time in this matter. Before issuing the Clearance Certificate, Revenue Canada will need to collect any tax payable on the property to be sold. Calculating Capital Gain: To determine the adjusted cost base in order to calculate capital gain, Revenue Canada allows the following:
I look after foreign sellers often and can work with you to make sure that you are making all the right decisions in selling your property today. Please call me or email me to discuss it further. If you haven't already done so Contact Rob Palm to join our Whistler Real Estate newsletter.
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