I have two investment properties in the United Kingdom and work now takes me to Canada for at least three years. I presume I will pretty soon be classed as a Canadian resident for tax purposes.
Can anyone tell me how the income from these paid in rent will be treated? What rates of tax etc?
Also, what if I sold the properties? Would the equity I have in these properties be taxed as income?
I know I must speak to a tax advisor in Canada and in due course I will, but if anyone can share with me their own experience or otherwise assist then that would be really helpful as a pointer of the direction in which I need to go.