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Updated almost 8 years ago,
Canadians buying rental properties in USA
Hi anyone have experience with this. Im looking into some great deals in USA with great cashflows and low property values in certain states. Im looking at tax implications for canadians that we would need to be charged 30% witholding tax. If we elect to file a US tax return then we can elect to only get taxed for the NET income based on a graduated scale.
They charge 10% tax again if property is sold.
Does anyone know overall if there is a huge tax disadvantage in the US versus Canada. Or are both systems similiar?