Calculator for Americans living in Canada selling their home Key Points Americans living in Canada face unique tax implications when selling their primary residence, including potential U.S. capital gains tax. The Canada-U.S. tax treaty offers some relief, but careful planning is necessary to avoid double taxation on the sale. Determining the tax basis of the…
Canadian tax on US principal residence sale? Key Points Canadians selling a U.S. principal residence may be subject to Canadian tax on the capital gain. The U.S. may also tax the sale, but the Canada-U.S. tax treaty can help avoid double taxation. The principal residence exemption in Canada can reduce or eliminate Canadian tax on…
Principal residence, losses, inherited IRA, FBARs and more – Episode 17 On episode #17 of Crossing the 49th Podcast we discuss Principal residence, losses, inherited IRA, FBARs and more. On another instalment of cross-border Q&A we discuss various cross-border tax and investment related issues. I’m moving to Canada, should I sell my PR or rent…
Cross-Border FAQ: CRA reviews, W8, Inheritances, IRA or RRSP? – Episode 12 On episode #12 of Crossing the 49th Podcast we walk through some frequently asked questions regarding cross-border tax and financial planning. I speak to lots of cross-border clients each week and I’ve compiled a list of some of the most asked questions I…
American in Canada Selling Their Home As Canadian housing prices have risen significantly over the last few years the tax consequences of selling your primary home for both Canadian and US purpose can be significant. We will discuss below the main cross-border tax consequences of selling your principal residence and how to potential reduce any…