Canadian moving to USA, owns property in Canada

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kimberlycastle
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Joined: Sun Apr 01, 2007 9:01 pm
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Canadian moving to USA, owns property in Canada

Post by kimberlycastle »

I am relocating from Calgary Alberta to the US in July.
I have an H1B and am relocating for work.
I own a condo in Calgary and would like to keep it and rent it out.
However I am not sure of what the tax implications of that are if any.

Any information you can provide would be helpful.
Thank you.
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nelsona
Posts: 18675
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Tax will have to be withheld on your rent and sent to CRA every month. You will have to file a 216 return with Canad every year for this income.

In US you will have to report the rental income and expenses, including mandatory depreciation.
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
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