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Buying a property in US - Tax rules
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happy_canadian Posts: 14
Posted On: 3/11/2020
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Hi there,
One of our friends is planning on buying a property in US. He would like to know the taxation rules for Canadian citizens who are non residents in US. What is the best way to do in this situation, please advise or guide.
Regards
IQ
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Moderator Moderator Posts: 4142
Posted On: 3/25/2020
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Hello There,
Thank you for sharing your situation and question with us.
In this situation, it is best that you contact the Canada Revenue Agency directly.
You can contact them using this phone number: 1-800-387-1193 (Canada and United States)
A similar question about taxation was asked in the forum, here: Newcomer leaving & returning to Canada-notification? - Questions about Permanent Residency
You may also find helpful information in the Settlement.Org article, Do I have to file a tax return?
Here is an excerpt:
Canadian residency for tax purposes is not the same as residency for immigration purposes.
What if I am outside of Canada?
According to Canada Revenue Agency (CRA), the most important factor in determining your residency in Canada for tax purposes is whether or not you maintain residential ties with Canada while you are abroad.
If you maintain residential ties in Canada, you may still be considered a Canadian resident for tax purposes. In this case, you have to pay Canadian income tax on your worldwide income.
There are helpful guides in this article that would support you in determining residency status for tax purposes.
If you have any additional questions, please feel free to post them here.
We hope this information is helpful.
Settlement.Org Team
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