Owning a rental property in Toronto or the Greater Toronto Area while living abroad can be a daunting experience. That’s why you need a solid property management company to take care of your needs. We manage properties for landlords who live all over the world.
We will walk you through the process, get you set up and deal with the government on your behalf.
It is important to know how moving away will affect your cash flow and what responsibilities you have. The government has an ‘explanation’ on their website but it’s not clear. On top of having to move, now you have to worry about tax implications.
Well, we are a certified easy way to manage those fears. We take care of all of your CRA needs. We remit all taxes owed on your behalf.
The government requires that you remit 25% of your rental income each month. You will be able to claim your expenses at the end of each year – expenses that cost you to operate the property.
We give clients peace of mind by meeting all requirements associated with remitting monthly payments.
You will also be required to complete a T-216 Tax Return every year. This is a mandatory requirement of CRA. If you do not file this return, you may be on the hook for substantial penalties. Find relief in our service by providing you you with the alerts and ‘heads’ up that you need.
We will take care all of your needs. If you need an international accountant then do not worry, we have someone that can help.
Our aim is to reduce stress during this extremely challenging time. Just call us today for a quick consultation.
