Expatriation: An Overview for Americans Living in Canada

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In 2015, Americans living abroad renounced their US citizenship in record numbers. Americans living in Canada accounted for many of these expatriations.

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Snowbirds cash in on strong U.S. house prices, low loonie – Yahoo News

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Shlomi Steve Levy was recently interviewed by Aviva West for an article which appeared on Yahoo Canada News. In the article, Aviva and Shlomi review various options available for Canadians who already own US Real Estate. The article shows how the falling Canadian dollar is inciting some but not all Canadians to sell their U.S. property, and also reviews the tax implications for Canadians selling U.S. property.

Click here to view the article online or scroll down to read the piece.

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FIRPTA – New Withholding Tax Requirements for Non-Residents

Blog by Jason S. Ansel

Currency Opportunity for Canadians

The current value of the Canadian dollar has presented many Canadians with an opportunity to realize significant capital gains when selling their US real estate. These types of profits would have otherwise been unattainable had the dollar kept its value in the global market. This opportunity is not one that is likely to be seen again for a long time, which is why so many Canadians are cashing out and listing their US properties. Read the rest of this entry »

Playing the Currency Game with US Dollars & US Real Estate

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Is it a good time to buy real estate? This is a question you can hear most days, in most cities. However, for Canadian snowbirds this is a big question as they venture south to spend the winter months in the sun of Florida and other sunbelt states. This begs the question: is it a good time for Canadians to buy US real estate?

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Canadians Clamour to Renounce US Citizenship

Blog by Shlomi Steve Levy

Last year, I wrote about the cost of renouncing US citizenship. In 2014, the US government raised the rate to renounce from $450 to $2350. Despite the increased fee, in 2015, 4279 US citizens renounced their citizenship – the largest number in history. This figure represents a significant increase when compared with the 2014 figure of 2999 expatriates. It is estimated that Canadians make up a large percentage of these expatriates. Read the rest of this entry »

Advisor.ca – Low loonie = opportunities for U.S. real estate

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Shlomi Steve Levy was recently interviewed by Susan Goldberg for an article which appeared on Advisor.ca. In the article, Susan and Shlomi review various options available for Canadians who already own US Real Estate. The article shows how the falling Canadian dollar may benefit Canadians who have already invested in the US market by following one of these four options: sell, rent your place, refinance or downsize.

Click here to view the article online or scroll down to read an excerpt from the piece.

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Advisor.ca – How to keep ahead of our plunging dollar

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Shlomi Steve Levy was recently interviewed by Susan Goldberg for an article which appeared on Advisor.ca. In the article, Susan asks Shlomi about what special considerations Canadians need to have front of mind when investing in US real estate while the Canadian dollar is suffering. Read the rest of this entry »

The Protecting Americans from Tax Hikes Act (“PATH”): Changes to the Treatment of Real Estate Investment Trusts (“REITs”)

Blog by David A. Altro

Last week, I blogged about PATH and the changes the legislation makes to the Foreign Investment in Real Property Tax Act (“FIRPTA”). One of the most important changes is that certain foreign pension funds are now exempt from FIRPTA when they dispose of U.S. real property. It was predicted that the exemption would increase the amount of foreign investment in U.S. real estate, and Canadian pension funds are already capitalizing on the change in the law: Canada’s largest pension fund, Canada Pension Plan Investment Board, recently announced its joint purchase of a $1.4 billion U.S. university student-housing portfolio with Scion Group LLC and Singapore’s GIC Private Ltd. Read the rest of this entry »

The Protecting Americans from Tax Hikes Act: New U.S. Law Paves Pathway for Important Changes to FIRPTA

Blog by David A. Altro

U.S. Congress was busy at the end of the year. There was much debate about several key pieces of legislation that have the potential to affect Canadians in 2016, including the popular EB-5 investment-for-visa program, which I most recently blogged about here. Amid the flurry of activity, President Obama signed a key piece of legislation into place: the Protecting Americans from Tax Hikes Act of 2015 (“PATH”).

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Happy Holidays!

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From our family to yours, best wishes for a joyful holiday season!

The Team at Altro Levy

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