1. Q: How does Canadian and U.S. income tax apply to U.S. rental properties owned by a Canadian resident?
A: Although there are a number of factors that determine how and how much you are ultimately taxed, generally speaking,
a U.S.- Canada Tax Treaty provides the benefit of reducing or eliminating double taxation.
Please see the attached link for more detailed info:
It is suggested that you consult a qualified cross border taxation expert prior to purchasing U.S. property.
I can assist you in obtaining the services of a qualified cross border taxation expert.
2. Q: Are there any tax filing requirements for Canadians owning U.S. property with no rental activity?
A: In most cases the answer is no.
3. Q: What are the tax implications for Canadians selling U.S. owned property?
A: Please see the attached link: www.rbcbank.com/advice-center/cid-298556.html
4. Q: What are the U.S. estate tax implications for Canadians owning U.S. property?
A: Please see the attached link: http://www.rbcbank.com/advice-center/cid-298552.html
5. Q: As a Canadian purchasing U.S. property, I've been told the best way to own U.S. property is through the formation of a
A: Forming a U.S. company is in most cases not the best way to own U.S. property.
6. Q: Are Canadians subject for foreign property taxes?
A: No, Canadians are not subject to foreign property taxes. Canadians pay property taxes in the same manner as any other
owner of U.S. property. However, in most cases, Canadians cannot claim primary home owner property tax exemptions on
their U.S. property. In some U.S. States, these home owner grants result in significant property tax reductions.
7. Q: Can a Canadian resident obtain a U.S. mortgage?
A: Yes, although it is more difficult to obtain a U.S.mortgage as a Canadian resident.
I can assist you in obtaining financing on the acquisition of U.S. real estate.
8. Q: I've been told as a Canadian, I am unable to open a U.S. bank account?
A: Most major U.S. banks permit Canadians to have accounts.