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Tax tax tax. Everyone should be able to buy a property but its not fair if you sell for a profit and pay no Canadian tax as non-residents do. Property taxes sh
by zz865 5y ago
Tax tax tax. Everyone should be able to buy a property but its not fair if you sell for a profit and pay no Canadian tax as non-residents do.
Property taxes should also be extra high for non-residents.
- voisin 5y agoI don’t disagree about using taxes to deal with this (though noncompliance and loopholes are a problem), but to clarify, non-residents pay tax on the sale of Canadian real estate. This is written into all reciprocal tax treaties. The only way out of this would be if the house was a principal residence, which is the same rule as applies to residents selling their principal residence. Apologies for all the residence/residents.