TAX SPECIALIST NEEDED FOR NON-RESIDENTS

[ycheun2]

Hello all,



I am a non-resident of Canada and now live in Hong Kong. I have interest moving cash back to invest in rental properties in Calgary, however, many people says Canada taxes are quite high. I like to de-mystify this. Does anyone know an TAX EXPERT who is familiar with non-residents investing in Calgary properties?



Thanks!



Shirley

 

[Nicola]

Generally speaking, you will have to pay a withholding tax of 25% of the rent (could be gross rent, or net rent, depending on if you file an NR6 Undertaking). When you file your annual tax return, you will likely get some (or all) of your tax back, depending on how much your expenses and deductions are.



I would recommend Todd Stokowski (in Alberta) or George Dube (in Ontario) - both REIN members and familiar with non-resident tax matters.