Canada

Tax Services for Non-Canadian Residents Owning or Selling Real Property in Canada

Are you a non-Canadian resident considering investing in real property in Canada or already own property that you're looking to sell? Understanding the tax implications of owning or disposing of real estate in Canada as a non-resident can be complex, but our specialized tax services are here to guide you through the process and ensure compliance with Canadian tax laws.

Here's how we can assist you:

1. Tax Planning for Real Estate Investment:

Before making any real estate investments in Canada, it's crucial to understand the tax implications and optimize your tax strategy. If you're earning rental income from your Canadian real property, we'll help you navigate the complexities of rental income taxation, including compliance filing (Sec. 216), withholding requirements (NR4 and NR6), allowable deductions, and potential tax treaty benefits.

2. Non-Resident Withholding Tax Compliance:

Non-residents selling Canadian real property are subject to withholding tax requirements under the Income Tax Act. We'll ensure compliance with non-resident withholding tax rules, obtaining Clearance Certificates, calculate the appropriate withholding amount, and handle all necessary filings with the Canada Revenue Agency (CRA) on your behalf.

3. Capital Gains Tax on Principal Home Disposition:

Selling Canadian principal home as a Canadian resident, you do not have to pay tax on any gain from the sale. This is the case if the property was solely your principal residence for every year you owned it.

With Sunstone CPA's comprehensive tax services for Canadian and non-Canadian residents owning or selling real property in Canada, you can navigate the complexities of Canadian real estate taxation with confidence. Contact us today to learn more about how we can assist you in optimizing your tax strategy and achieving your financial goals.