Canadian non-residents who sell Canadian real property must get a clearance certificate from the Canadian Revenue Agency (CRA). You need a Clearance Certificate before the title of a property is transferred to another party. The certification is not mandatory, but without one, the CRA can hold you liable for any unpaid amounts before or after […]

There are lucrative investment opportunities for Canadians in America. Learn more about investing in the US and how it’s taxed in Canada. Canadians are taxed on their international income, so it’s important to understand cross-border investment implications. Since Canadian residents are taxed on their worldwide income, you must report US dividends, interest, capital gains, and […]

Canadians who sell real estate in the US are subject to the Foreign Investment in Real Property Tax Act (FIRPTA). As a seller it’s important to understand what FIRPTA is and how to recover them. What is the FIRPTA withholding rate? With few exceptions, the purchaser is required to withhold and pay a tax of up to […]

When immigrating to the United States, Canadians tend to explore investment Visa paths as they provide more reassurance for families to stay within borders than a Temporary Work Visa. Two of the most frequently requested visas are the EB-5, which provides a direct green card path, and the E-2, which offers an individual to work […]

A Form W-7 is used by the Internal Revenue Service (IRS) to issue an Individual Taxpayer Identification Number (ITIN) to non-US citizens. These individuals earning income from US sources require an ITIN in place of a Social Security number, and are required to file a federal tax return. After that, an ITIN will be issued […]

Are you a Canadian company selling to the U.S? If so, sales to the U.S. are considered exports if consumed outside of Canada – therefore exempt from GST/HST. In addition to this, you may need to obtain a sales tax permit and pay U.S. sales tax depending if the Canadian company with sales to a […]

U.S Real Estate Canadians are prominent international buyers in the American real estate market, but the methods used by investors vary. Canadians can buy and own U.S. real estate either directly or through the use of various forms of business entities — corporations, partnerships, and trusts.  Let’s review some ownership structures available for foreign investors: […]

Employers are not only required by the Internal Revenue Service (IRS) to pay your business’s portion of taxes, but you are responsible for withdrawing specific taxes from employees. Individuals who are self-employed pay the same tax (with the same rate) that employees and employers pay, but it’s paid differently. Learn where tax dollars are going […]

Moving abroad can be a complicated process. Perhaps you are a professional moving for work or a retiree looking for a warmer location. There are tax consequences if they choose to leave Canada permanently. Understanding the penalties that may arise when terminating your Canadian tax residence can ease the process and reduce implications. Under Canada’s […]

FIRPTA Withholding Tax Tips: Understanding Tax Implications for Canadian Individuals Selling U.S. Real Property When it comes to selling property across the border, Canadian individuals should be aware of the tax implications. If you’re a Canadian resident planning to sell an income-producing property located within the United States, “FIRPTA Withholding Tax Tips” are essential to […]