Real Estate

Oversea Real Estate Investment and tax issue

  • Last Updated:
  • Aug 29th, 2015 10:17 pm
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[OP]
Deal Addict
Feb 7, 2008
1527 posts
123 upvotes
Toronto

Oversea Real Estate Investment and tax issue

My dad gave up his PR status last year and I am a dual citizen.
I know I am supposed to file it if I purchase it under my Canadian passport.
If I purchase a property outside Canada under my dad's name (i want to give him as a gift), do I need to inform Canadian government?

If I purchase a property in U.S. under my name, is IRS going to inform CRA? I know CRA report to IRS if an American citizen or permanent resident having asset in Canada.
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