Canadians have been flooding the market snapping up great deals over the past few years and we appreciate their business!
Here are a few helpful tips for our Canadian snowbirds.
If you are planning on spending substantial time within the U.S., you will need to know if you are “resident alien” or a “non-resident alien” – determination made by the IRS. Your status as a U.S. resident will affect the way you pay tax.
If you wish to apply to become a resident of another country, you can do so without affecting your status as a Canadian resident.
Becoming a resident of a country is an important consideration if you are planning to purchase property. It can be difficult to guarantee your property rights if you are considered a tourist.
If you own foreign property worth more than $100,000, you must report this to the Canada Revenue Agency. You could face substantial penalties if you fail to do so.
Be aware that the majority of provincial heath care programs my terminate your benefits if you are out of Cananda for more than six months.