seasonal Canada residence of US citizen -

My_question_is: Applicable to both US and Canada
Subject:        seasonal canada citizenrsonal property
Expert:         taxman at centa.com
Date:           Thursday January 18, 2007
Time:           12:20 AM -0500
QUESTION:
i am a US citizen.  i purchased a home in Canada.  i plan to rent the US
house. i understand i can bring the contents of my US house tax exempt to
Canada as long as i apply for a "seasonal canadian resident", which allows
me to stay 6 months at a clip.    Will i be able to bring back the personal
property that i brought into Canada back to the US if i decide to sell the
Canadian house in the future?
--------------------------------------------------------
david ingram replies:
If you do not have a home available to you in the USA, you will not be
considered a visitor to Canada.  You will be presumed to be living here.
To be a visitor, you should have a US home ready and waiting for you to put
your head down on a pillow tonight.  It should have a working phone although
with so many people only having a cell phone, that is not too important.
However, if you have a Canadian cell phone, you should also have a working
US cell phone.  If you have a working land line in Canada, you had better
have a working land line in your US house.
The ownership of a property in the USA is not important.  What is important
is that you have a home available to you "tonight".  Therefore, if you rent
your home out to someone else, it is not available and you do not qualify to
come to Canada as a visitor without some sort of special disposition which
you are not likely to get if you are questioned and own a home in Canada
without one in the USA. This would likely come to their attention when you
try and bring in your furniture.
If you do get into Canada, and are here more than 183 days in a year in
total, you will become  taxable on your world income in Canada with or
without an official resident or visitor visa.
As a non-resident of Canada, any increase in value in the Canadian real
estate is subject to Canadian Income Tax as well.
The GOOD NEWS is that if you do get the furniture into Canada for your
seasonal residence, you do get to take it back to the USA in the future.  In
fact the law is that you HAVE TO take it back or are liable to large customs
duties and fines and interest.
So, do not make the mistake of selling the Canadian home furnished in the
future.
  -----------------------------
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