Canadian non-resident buying BC vacation property in

Date:           Monday January 03, 2005
Time:           03:06 AM -0800
QUESTION:
I have been working overseas for the past 5 yrs, I would like to buy a
vacation place for the familly in my 20 yrs old son's name with a trust
attached in it stipulating that he cannot sell it without our consent.
Should we pass away he could sell it and share the proceed with his eldest
sister. My grown-up children live in Canada
The property will be empty most part of year except for 3 weeks in the
summer.
Will this have any tax implications when I retire in BC in the next 5 yrs or
so?  What should I watch for?
Thanks for your advice.
======================
david ingram replies:
If you are in a tax treaty country such as France, Germany, the US, Italy,
Dubai, etc., there is no problem.
If you are in a non-tax treaty (with Canada) country such as Hong Kong,
Bermuda, the Bahamas, Saudi Arabia you likely have a problem.
Read the Judge Teskey case in the previous email for examples of "when" and
"how" a person escapes Canadian tax.
You should likely spend a $350 per hour phone consultation with me or
someone else with the experience you need.  People like Gary Gauvin in
Texas, Steve Katz in Vancouver and Steve Peters in Halifax are a couple of
examples of others who understand the non-resident rules for Canada.
Answers to this and other similar  questions can be obtained free on Air
every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Dundee Wealth
Management and I, David Ingram  will be hosting an INFOMERCIAL but LIVE talk
show called "ITS YOUR MONEY"
Those outside of the Lower Mainland will be able to listen on the internet
at
www.600AM.com <http://www.600am.com/>
Local calls are taken at (604) 280-0600 and Long Distance calls are taken at
1( 866) 778-0600
I do not know how far the LD line reaches.
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