Thanks again Thomas. I will look into this further. At the moment it seems to be the German income from my "job" which is the main issue. To my knowledge the only way around paying tax on that income is to claim non residence. But I will have to confirm that with my tax guy. In the meantime, if...
Thanks again Thomas! Would you happen to have a tax consultant that you could recommend? Someone who would be familiar with foreign income as well as rental property income/expenses? I'd love to speak with someone who could steer me in the right direction. My tax guy has been OK for many years...
Thanks for the reply Thomas!
I have just looked into buying now before filing as non resident. Hopefully that will work and allow me to at least pick up another property.
By opening a Canadian corporation do you mean an LLC with a Canadian resident as owner? I'd love to do that and make my...
Hi everyone,
I have a question about investment property financing when filing as a non resident for tax purposes in Canada. I work overseas in Germany and all of my "job" income is coming from out of country. So to avoid high tax hits from the CRA each year I have thought about the idea of...
Was hoping someone could give information about the rezoning process in Hamilton. Interested in a property that is currently zoned 2-family residential but has 4 apartments. Previous owner used it as 4 units but in order for me to do it legally what needs to be done? How long does the re-zoning...
Thank you for the information. Wondering if any of you have heard of a company called S.Suite Management and if you have information about them. The lady I have spoken with was very helpful and has suggested that I look into the Downtown development grant program. I did so and it turns out I do...
Just purchased a 6 unit building in Hamilton and I'm wondering if someone can recommend a specific property management company... Have spoken to a few and fee's range from 5% - 8% of the monthly income. Why are some companies more expensive and is it worth the extra money to pay for a certain...