Cross-border issues for those with U.S. investments

What Canadians, including retired snowbirds, need to know.

Matthew Elder 2 October, 2015 | 5:00PM

For most Canadians, dealing with one tax man (and for Quebecers, two) seems plenty. But for those who have income from U.S. sources, Uncle Sam also wants a piece of the action.

This mostly affects income from U.S. dividend-paying stocks and U.S. real-estate income. You will have to pay a non-resident withholding tax to the U.S. Internal Revenue Service (IRS), which often can be recovered when you file your Canadian tax return.

Canadians such as retired snowbirds who live at least part of the year in the U.S. also must heed IRS requirements. Their tax obligations will depend on how long they spend south of the border and whether they own a home there.

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Matthew Elder

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