Category: Non-Residents

(based on real life events)At the end of August 2010, Dave and Jane were buying their first home Nervous about finding the “right” home for themselves and their two kids they look at property after property Finally, at the beginning of August 2010, the house at 3245 McLeod Road came up for $375,000 It was the right...

Continue Reading
By Peter Borszcz / Income Tax, Non-Residents, Sellers /

When a non-resident of Canada is the Seller of real property special considerations apply to ensure that the government of Canada is paid all applicable taxes on sale s116 Income Tax Act - provides that the BUYER must withhold between 25-50% [depending on the nature of the property] of the Purchase Price from the Se...

Continue Reading