Taxation of Canadian residential real estate: what non-residents need to know

This article provides a quick summary of important points concerning the taxation of Canadian residential real estate for non-residents of Canada.
The Canadian real estate market has attracted a lot of attention from foreign buyers. The Toronto and Vancouver residential property markets have had extraordinary price increases (for example a 30 per cent increase in Toronto in one year). This has caused governments at all levels, federal, provincial and municipal, to focus on the area. The result has been…