With member firms from coast to coast, we are one of the country’s largest associations of chartered professional accounting firms. As an all-Canadian network, we have a longstanding reputation for value-added audit, tax and advisory solutions.
For a few years following the 2008 financial crisis, we saw many investors and snowbirds purchasing U.S. properties to take advantage of real estate bargains and a weak U.S. dollar. Over a decade has passed, the Canadian dollar has weakened, and with limited ability—or desire—to travel to the U.S. due to COVID-19 we are noticing a significant increase in U.S. real estate sales by Canadian residents. The situation provides an incentive to review some of the common U.S. tax issues when a Canadian resident sells U.S. real estate.
Updated as of October 6, 2020. Stay tuned for the latest updates on tax and financial measures impacting Canadian businesses in the wake of COVID-19, as well as insights on how organizations can navigate this crisis.