Owning US Property whilst living in Canada
Hi,
does anyone have experience of owning a US property and renting it out whilst living in Canada please? Thanks, |
Re: Owning US Property whilst living in Canada
Originally Posted by mcdavis
(Post 7654962)
Hi,
does anyone have experience of owning a US property and renting it out whilst living in Canada please? Thanks, a pal of mine has a property in the states he doesnt rent it out, but uses his address there for buying stuff on line so he can avail of the lower US price |
Re: Owning US Property whilst living in Canada
Originally Posted by mcdavis
(Post 7654962)
Hi,
does anyone have experience of owning a US property and renting it out whilst living in Canada please? Thanks, |
Re: Owning US Property whilst living in Canada
I do know someone in our extended family who is a Canadian national and resident who owns a property in Montana... he is liable for the usual local property taxes etc. but at this time doesn't rent out the property so there are no other complications.
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Re: Owning US Property whilst living in Canada
We were going to look at condo's in Montana this summer, with a view to renting when we were not using but fell in love with something much closer - I just wanted the excuse to go to Montana a bit more BUT......
Anyhow, can't help with the tax implications as we didn't get that far ahead. |
Re: Owning US Property whilst living in Canada
Originally Posted by Simon Legree
(Post 7655490)
I have a house in Arizona. I don't rent it out. Because of the amount of time I spend there I do file a US Income Tax Return.
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Re: Owning US Property whilst living in Canada
Originally Posted by iaink
(Post 7656128)
Just curious...Do you have US resident status too, or are you just a snowbird pushing the limits as a visitor while maintaining your canadian health coverage. How much time do you spend down there? (cant say I blame you, Arizona/ Utah / Nevada is stunning)
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Re: Owning US Property whilst living in Canada
Originally Posted by Simon Legree
(Post 7656312)
No, I do not have US Resident Status. Yes, I am a snowbird and I do have to count my days as far as my Provincial Health Care goes. I leave here the last part of October. Depending on where else I might wander on the way it usually takes me at least six days. It's about 3,600 miles from here to there. I usually get there around November 1. I stay there until the end of March and then wander back in time to pay my income tax ! You are right, Arizona and Utah are stunning. My favorite place on earth is right there. I have been fortunate enough to visit lots of places but I much prefer that area. Unlike Yuma, where I live, it's not that warm in the winter because of the altitude of about 7,000'. I have done the Grand Canyon numerous times, in all of the seasons and it never, ever ceases to amaze me. The best way to see this masterpiece of mother nature is a raft ride down the Colorado River, through the Grand Canyon. Superb doesn't quite cut it. I have done that more than once. There are all levels of life in Arizona, from the desert to snow capped Humphries Peak at almost 13,000 feet. At the moment in Yuma it's 23 C with a forecast high of 33 C. Low of 19 C ! It's supposed to go to 35 C next week. Humidity is only 34% though ! You needed to know all that didn't you !!
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Re: Owning US Property whilst living in Canada
Originally Posted by mcdavis
(Post 7654962)
Hi,
does anyone have experience of owning a US property and renting it out whilst living in Canada please? Thanks, |
Re: Owning US Property whilst living in Canada
We're looking at New England - Florida's too hot!
Interesting to see the comments about Provincial Health Care - anyone know how this will work for Nova Scotia residents please? |
Re: Owning US Property whilst living in Canada
Originally Posted by mcdavis;7658534[B
]We're looking at New England - Florida's too hot!
[/B] Interesting to see the comments about Provincial Health Care - anyone know how this will work for Nova Scotia residents please? As far as health care goes it's basically six months less one day. |
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