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Canada will likely NOT be the only country to pull the IRS's trick of punishing foreign nationals. Here it is. Now Americans who own property in Canada may be forced to pay an underused property tax - or be forced ot rent out their properties and risk everything on the very anti-landlord Canadian housing laws.

https://citizenshipsolutions.ca/2023/...

Join Anthony Parent and John Richardson as they discuss a new tax regime - one that will likely be replicated in other countries.

A growing number of Municipal governments have created various laws and regulations designed to (1) discourage the use of properties as short term rentals and/or (2) encourage vacant properties to be released into the residential rental market. Interestingly the Municipal laws are simple in application, focus on the property and do NOT in their express terms discriminate against individuals based on “citizenship” (a prohibited ground of discrimination under certain human rights laws) or “immigration status”.

Canada’s Federal Government has created its own law which is (1) aimed at “Foreign Buyers” and (2) aimed at discouraging short term rentals. Canada’s law is complex and will certainly create (unintended?) compliance problems for certain Canadian citizens and residents.

All of these laws come with draconian penalties and will be seen as government “revenue raisers”. I suspect that they will also become incrementally more intrusive. What starts out as a declaration that a property is occupied will certainly expand into questions that ask for the number of occupants, identity of occupants, how the occupants are related, etc.

https://citizenshipsolutions.ca/2023/...