Buy rental property in canada

[John Boby]

As a US citizen who lives in USA, if I buy rental condo in Vancouver BC, what kind of tax I should pay on the profit?

[Nadine Lajoie]

Usually, the treaty between countries make you pay the most taxes they can, so the maximum between countries!!!

I'm Canadian In USA since 2009 and ex financial planner, had coached over 850 clients in finances,  usiness and rwal eatate, so I learned a lot on international taxes since I'm here, forms to provide, etc...  a real nightmare that only 3 or 4 attorneys and accountants out of 25 can deal with international matters!!!

Ex: in Canada if your tax bracket is 40%, and in USA 25%, good chance you will have to pay the extra 15% to make it 40% total.

But most importantly, there are new laws since 2011 and 2014 that your accountants are not telling you about because most don't know unless they are specialized in International.  The international filings are really crazy with 5k penalty per year and per form missing.  Be sure you are on the right side of the fence and get the RIGHT INFO.  As examples, the forms 8938, fbarr, 5471, 8833, 5472, 8921, 3520, 926, subpart-F, etc... are only few examples of the nightmare you maybe in, without knowing, because most people don't know!!! That is pretty ridiculous...

They make everything impossible for international investors and entrepreneurs!! They think everyone is a multinational who can afford 92k in tax planning!!!!

Be careful and let me know if I can help with my experience and connections Canada-USA.

Stay safe and play by the book and file all forms required. :)