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CSA TRAVEL INFORMATION GUIDE
As an alternative to applying for an ITIN and making a formal income tax claim for net winnings
on your own, you may retain the services of a third-party refund management company or service.
These services will assist you in obtaining an ITIN, notarizing any documents you need to submit to
the IRS, along with actually filing your income tax return. For this service, they will generally retain a
percentage of any refund you eventually receive.
Purchasing Property in the United States
Deciding to purchase, instead of rent, a secondary or seasonal property in a foreign country is a deci-
sion that should not be made lightly or on impulse. It is always a good idea to rent before making a
long-term financial commitment. This will allow you to determine if the residential area and lifestyle
is desirable. In some countries foreign ownership of even a part-time vacation property could be
prohibited.
When purchasing (or selling) property, it is advisable to retain the services of a lawyer. (This is not a
routine function in the U.S.) Avoid using the other party’s lawyer, and retain your own who you are
assured will only be looking out for your best interests. Furthermore, when purchasing property that
is under construction, a down payment that is as low as possible is advisable. This will limit your loss
if your builder experiences financial difficulties prior to the completion of your property.
Please note that purchasing property does not increase the number of days you are allowed to reside
in the United States. Canadian citizens are allowed 182 days annually, and Canadian permanent
residents are allowed 90 days per trip to an annual maximum of six months. As U.S. border officials
are concerned with visitors who appear at risk of overstaying their legal time limit, it will be
particularly important to carry proof when crossing the border of your ongoing commitment to a
primary residence in Canada. Please refer to the separate CSA monograph entitled Proving You Are
Only a Temporary Visitor.
Do you hold foreign property?
If at any time in the tax year you had foreign property with a total cost of more than $100,000 CAD,
special Canadian tax rules may apply to you. If applicable, refer to the Canada Revenue Agency (CRA)
income tax guide or speak with your tax preparer. Please note that this $100,000 CAD threshold
applies to the total cost amount of all foreign property you owned or held a beneficial interest in
including:
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Funds held outside Canada
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Shares of non-resident corporations, even if held through a brokerage
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Indebtedness owed by non-residents in non-resident trusts
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Real property outside Canada (this does not include “personal use” property such as vacation
property unless it is rented out some or all of the year)
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Other property outside Canada
In this section, the association has provided information for further consideration in the following
categories:
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Homestead Exemptions on U.S. Property
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Community Homeowners, Cooperative and Condominium Associations
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Renting out your Property