Serbinski Accounting Firms

nelsona wrote:
> No. Once you have established foreign residency, such a property -- even
> one that you keep solely for yourself -- would not make you resident, since
> by treaty, you meet all the requirements of US vs. Cdn residency.
>
> You would need to be wary of US gift tax, so make sure you ...

Hi,

I'm a Canadian citizen living in the US as a PR and I've been considering buying property in Ontario for my parents. I'm curious if there's any tax gotchas I should be aware of in terms of renting to family and whether this would establish residential ties in Canada or not?

Thanks