Real Estate

/Real Estate

Form 1120-F Filing requirements for Canadian Corporations active in the U.S.

Canadian corporations doing business in the U.S. are viewed by the Internal Revenue Service (IRS) as ‘Foreign Persons’. The U.S. taxes Foreign Persons on income effectively connected with a U.S. trade or business activity as well as certain U.S.-sourced income not effectively connected with a U.S. trade or business activity (commonly known as FDAP or Fixed, [...]

Form 1120-F Filing requirements for Canadian Corporations active in the U.S.2017-02-10T17:05:07+00:00

The First Time (but not really) Home Buyers’ Credit

Even though there are warnings galore about the amount of debt taken on by Canadian households, our Provincial and Federal governments seem to think that mortgages aren’t a bad thing and continue to offer a number of incentives available to first time buyers. One of these is the First Time Home Buyers' tax credit offered [...]

The First Time (but not really) Home Buyers’ Credit2017-01-27T16:00:25+00:00

Canadian individuals purchasing U.S. property

This article examines the individual income tax implications in the U.S. and Canada, for Canadians purchasing U.S. rental properties or personal use properties. For more information pertaining to Canadians selling U.S. rental properties, please refer to the accompanying article on our website. Disclaimer – This article is about the U.S. and Canadian tax consequences of [...]

Canadian individuals purchasing U.S. property2016-12-15T11:26:15+00:00

Selling Real Estate in Canada – New Reporting Requirements

Starting with the 2016 tax year the Canada Revenue Agency has introduced new reporting requirements on personal tax returns for the sale of real estate in Canada, even if the property is a principal residence.  It's no secret real estate markets across Canada have appreciated significantly and it appears the government wants to make sure [...]

Selling Real Estate in Canada – New Reporting Requirements2016-12-07T10:33:28+00:00