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If you live overseas and you own a rental in Ontario and you think you can skip Canadian tax on a rent, listen to this. The default rule, your tenant or your agent has to hold back 25% of their gross rent and send it straight to the CRA. That's gross. Before a single expense, no. Being in another country does not hide you. The CRA has a unit for exactly this. The joke's on them every single time. Here's the fix. Final election election called the NR6, get it approved, and the 25% comes off your net instead after your cost. Then a section 216 return clause back, what was over withheld. This is general information, not tax advice. Partner with a cross-border tax account and set it up right. Follow for more on owing to Ontario rentals from anywhere in the world.

If you live overseas and you own a rental in Ontario and you think you can skip Canadian tax on a rent, listen to this. The default rule, your tenant or your a…