Do you love the warm sunshine and find the Canadian winter cold and unpleasant? Like many Canadians, you may want to spend the winter months in a sunnier, warmer climate. When many Canadians reach a point in their life where they have the financial resources and flexibility to do so, they consider buying a condo in the U.S. to spend the winter months. A common consideration to help cover the costs is to rent it out when they’re not using it, and then sell after a few years. What do Canadian snowbirds need to be aware of?
Canadians who spend significant amounts of time in the U.S. or purchase U.S real estate should be aware of a few important tax considerations.
