Non-Resident Tax

Over the last number of years, Canada’s housing market has been the subject of much attention both at home and abroad. The market was red hot while housing in many other nations, including the United States, was still feeling the effects of collapse. Historically low interest rates were a mechanism that allowed many to leverage and keep the housing market in Canada a hot commodity.

Many Canadians own property in Canada for the sole purpose of earning rental income. And much like any other income, rental income is taxable on your annual tax returns. However, Canadians are not the only individuals who earn this income in Canada. Non-residents also purchase property in Canada to rent out for financial gain.