Hello.
I moved to the US last October and started renting out my condo in Toronto in December. Do I need to tell my tenant to withhold and remit a % of the rental price to the CRA ?
I am not sure I am considered a non resident of Canada since I moved less than 183 days ago and haven’t asked the tenant, but I don’t want to have trouble with the CRA, as I understand I will eventually have to report this rental income in the tax return.
Thank you
Rental withhold tax
Moderator: Mark T Serbinski CA CPA
Re: Rental withhold tax
You are considered non-resident as soon as you move to the states, so you should be getting ready to file for CRA (a) an emigrant return for 2024 (b) a 216 return for your rental income after October.
Read and follow the following information:
https://www.canada.ca/en/revenue-agency ... t-tax.html
Read and follow the following information:
https://www.canada.ca/en/revenue-agency ... t-tax.html
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Re: Rental withhold tax
Thank you for the reply. I didn’t mention, but am I considered a non resident of Canada even if I moved to the US temporarily? I have a TN visa, it’s non immigrant, I would have to go back to Canada if I lose my job or it expires and I can’t renew it
Re: Rental withhold tax
Your intent, and actions, make you non-resident. You aren't going down on a three-month contract to work for the summer. You've moved and have rented out your place.
Go through the steps you need to take, and then you will be done.
Go through the steps you need to take, and then you will be done.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best