As a non-resident, a little bit of extra tax planning is required when selling Canadian real estate.
Many Canadians live abroad but own rental properties in major Canadian cities like Vancouver – mostly because Canadian real estate has become a choice asset to own. The same principles apply to many non-Canadians who are also invested in rental properties here in Canada. Both classes of taxpayers are considered non-residents for Canadian taxation purposes and both are required to report any rental income earned in Canada. Non-residents with rental income earned in Canada have tax obligations. ... Read More