Navigating the Sale of Canadian Real Estate for Non-Residents of Canada
Selling Canadian real estate as a U.S. citizen involves a complex maze of tax obligations in both Canada and the United States. The process requires careful planning and a deep understanding of international tax law to ensure compliance and optimize your financial outcome. At Brij Professional Corporation, we provide specialized tax services for Americans disposing of Canadian property, offering clarity and confidence every step of the way.
Our team of Canada-US tax specialists has extensive experience helping clients navigate the intricate requirements of both the IRS and the Canada Revenue Agency (CRA). We understand the challenges you face and are dedicated to simplifying the cross-border tax filing process for you.
Our Comprehensive Services for Your Canadian Property Disposition
We offer a full suite of tax preparation and advisory services tailored specifically to the needs of Americans selling Canadian real estate. We manage the details so you can focus on your transition, knowing your tax affairs are in expert hands.
Canadian Tax Compliance
Navigating the Canadian tax system is the first critical step. Our services ensure you meet all CRA requirements accurately and on time.
Form T2062 Clearance Certificate
We handle the preparation of your Form T2062, Request by a Non-Resident of Canada for a Certificate of Compliance. This mandatory step notifies the CRA of the sale and is essential for avoiding excessive withholding taxes on your sale proceeds.
Canadian Tax Return Preparation
We prepare Canadian tax returns to report the capital gain or loss.
Underused Housing Tax (UHT) Return
We determine your obligations under the UHT rules and prepare the necessary returns, helping you avoid significant penalties associated with non-compliance.
United States Tax Compliance
As a U.S. citizen, you are taxed on your worldwide income. The sale of your Canadian property must be correctly reported to the IRS. Our U.S./Canadian cross-border tax specialists ensure seamless integration of your Canadian and U.S. tax filings.
U.S. Tax Return Preparation
We report the sale of your Canadian real estate on your U.S. tax return.
Foreign Tax Credit Considerations
We help you avoid double taxation by maximizing your foreign tax credits for the Canadian taxes paid on the property sale. This is a crucial element of cross-border tax planning.
Capital Gains & Exchange Rate Computation
We manage the complex calculations required when converting transaction details from Canadian to U.S. dollars, including the original purchase price and final sale price, to determine your precise capital gain or loss for IRS purposes.
FBAR and FATCA Reporting
We handle your foreign asset reporting obligations, including FinCEN Form 114 (FBAR) and Form 8938 (FATCA), to help you remain compliant with U.S. disclosure laws.
Integrated Cross-Border Tax Advisory
Our expertise extends beyond simple tax preparation. We act as your dedicated cross-border tax expert, providing strategic advice that considers your complete financial picture. From initial planning to final filing, we are your trusted partner for all US-Canada tax services.
Why Choose Brij Professional Corporation?
Selling a property across borders shouldn't be a source of stress. Our confident, professional, and empathetic approach ensures you feel supported and understood.
For more information on our process and fee structure, please review our How We Work page. You can also explore cross-border tax topics on our blog.