New U.S. property tax rules hit home
David A. Altro is a frequent contributor to Paul Delean’s business column in the Montreal Gazette.
Click here to view the article online or scroll down to read David’s interview about his new book, Owing U.S. Property – The Canadian Way, 2nd Edition.
Monday, August 29, 2011
A strong loonie and depressed U.S. real estate prices have led to a buying binge south of the border by Canadians. We’re now the largest non-American buyers of U.S. real estate. Many purchasers, however, have only a vague idea of what they’ve committed to from a tax and legal standpoint.
“There’s a presumption among people that the laws must be the same in the U.S. and Canada. A lot find out otherwise only after they buy,” said David Altro, a Montreal lawyer who also practices in the United States.
Altro, who specializes in cross-border tax, property and estate-planning issues, is the author of a 2009 guidebook titled Owning U.S. Property the Canadian Way. Read the rest of this entry »