Episode 48: Tips for Canadians Owning Vacation Properties in the U.S.
Your Canadian Retirement Specialist · Regan Schiller
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Show Notes
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With our cold winter climate, many Canadians dream of spending more time in the sun. If you are thinking of making this dream a reality and buying a home in Florida, Arizona or another warm-weather destination in the U.S, it's important to consider the tax implications on both sides of the border.
This episode provides a brief overview of selected U.S. and Canadian income tax consequences for Canadians owning U.S. real estate as personal-use property. I also briefly discuss some of the implications of renting your property.
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Regan Schiller holds his Certified Financial Planner, Registered Retirement Consultant and Certified Life Underwriter designations. He is an Executive Financial Consultant licensed under Investors Group Securities Inc.Mutual funds and investment products and services are offered through Investors Group Financial Services Inc. (in Québec, a Financial Services firm). Additional investment products and brokerage services are offered through Investors Group Securities Inc. (in Québec, a firm in Financial Planning). Investors Group Securities Inc. is a member of the Canadian Investor Protection Fund. Commissions, fees and expenses may be associated with mutual fund investments. Read the prospectus before investing. Mutual funds are not guaranteed, values change frequently, and past performance may not be repeated.
LIRA regulations vary provincially. For more information on LIRA in your area, please refer to your provincial government's website. Additional information on the Canada Pension Plan and Old Age Security can be found at:
www.canada.ca/en/services/benefits/publicpensions.html.
Music courtesy of LesFM: https://lesfm.net.