PART 3 - Non-Residents Renting Property in Canada? Avoid These CRA Tax Traps!

Non-Resident Investing in Canadian Real Estate Series - PART 3 - Non-Residents Renting Property in Canada? Avoid These CRA Tax Traps!


Are you a non-resident renting out property in Canada? The process can feel overwhelming with CRA rules, non-resident accounts, and monthly withholding requirements. In this third video of a four-part series, CPA Duncan McPherson explains how to navigate the bureaucratic maze of renting Canadian real estate as a non-resident while minimizing penalties, interest, and stress.

💡 What You’ll Learn in This Video:
✅ Why you MUST get a Canadian Tax ID number and a Non-Resident (NR) account before renting your property.
✅ The difference between remitting 25% on gross rental income vs. net rental income—and how to qualify for net remittances.
✅ How Form NR6 can help reduce your withholdings (but why you’ll need a trusted Canadian friend or relative to sign it).
✅ CRA’s refund process for timely filing—and how it compares to the IRS rules in the United States.
✅ What goes on a Section 216 return and why selling your rental property could require filing two separate returns.

🌎 Renting Canadian property as a non-resident can be a hassle, but with the right steps, you can avoid costly mistakes and CRA penalties.

📅 Stay tuned for the fourth and final video in this series, where Duncan breaks down the bureaucracy of selling Canadian rental property as a non-resident.

💼 Need expert help? Contact Duncan at TheMacTax.com for tailored guidance to avoid CRA traps and ensure compliance with Canadian real estate tax laws.

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