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Canadian Renters Now Required to Collect Foreign Landlord's Taxes, Withhold Rent
Canadian renters are getting a rough introduction to the country’s foreign investor problem. The Canada Revenue Agency (CRA) just informed tenants they’re on the hook for any unpaid taxes their non-resident landlord may owe. In a bizarre decision, the nation’s tax authority is telling tenants who pay rent to non-resident landlords to withhold a portion […]
In a bizarre decision, the nation’s tax authority is telling tenants who pay rent to non-resident landlords to withhold a portion and remit it on their behalf, or they may be liable for the amount with penalties. “The CRA should reverse its policy immediately, and not force tenants to pay their foreign landlord’s taxes or risk eviction, ever,” wrote MPP Bell in their open letter. Further adding the recommendation, “Ontario should establish a beneficial ownership registry so the identity of a property owners is part of the public record, and a tenant can easily know if their landlord is foreign or not.”
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