What problems will we face in purchasing Summer Home in British Columbia??????
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We've been toying with the idea of purchasing a lakefront second (summer) home in
British Columbia and have a few questions.
Realtors assure us that US citizens would have no problem purchasing property in
Canada (but only Canadian citizens can purchase crown leases). If we do purchase
property, what will be our income tax consequences. I've been trying to find
information on the web and have found some indications that having a residence in
Canada makes you a resident. If we were to stay in Canada for three months out of the
year....would we pay Canadian income taxes for the 3 months and US taxes for 9
months? Appreciate your feedback?
Any other problems that we haven't thought about yet ???
Thanks!!!!
Sandy
British Columbia and have a few questions.
Realtors assure us that US citizens would have no problem purchasing property in
Canada (but only Canadian citizens can purchase crown leases). If we do purchase
property, what will be our income tax consequences. I've been trying to find
information on the web and have found some indications that having a residence in
Canada makes you a resident. If we were to stay in Canada for three months out of the
year....would we pay Canadian income taxes for the 3 months and US taxes for 9
months? Appreciate your feedback?
Any other problems that we haven't thought about yet ???
Thanks!!!!
Sandy