There was a very useful article published on Advisor.ca site. In simple terms it clarifies the situation with the American taxes that Canadians must pay when selling American real estate. Canadians who own property in the U.S. are not required to file U.S. tax returns unless the property generates rental income or they have other U.S.-sourced income in a given tax year. As a result, Canadians who have purchased U.S. properties as vacation homes are usually filing U.S. tax returns for the first time when they sell these properties, and potentially owe a capital gains tax to the IRS.
Introduction Central bank rate announcements dominated the headlines in March. Most held steady, while pointing…
Introduction Global equity markets moved higher over the month of February. Investors held largely positive…
Introduction Global equity markets edged higher over January. Sentiment was largely mixed as investors parsed…
Introduction Investor sentiment improved in December on rising expectations that major central banks, including the…
Introduction Investor sentiment improved in December on rising expectations that major central banks, including the…
To give you information for updated tax rates, click on the link below: Essential tax…