One concern that many Canadian real estate purchasers of US property have is whether they will have to pay income taxes to both the US and Canada upon the sale. The answer could be maybe, but it won't be double taxation. If there is a capital gains tax due in the US, the only amount, in most cases that will be due in Canada, is anything over the US tax rate. Check the video for more details. Please note that everybody's personal situation is different, so you should consult the appropriate tax professional for your needs.
Adam Tarr PC
Citywide Real Estate
Phoenix, AZ
This entry was posted on November 4th, 2013
| Posted in General