Canada Revenue Agency (CRA) requires that the agent (Rowan Property Management Ltd.) of a Non-Resident Owner withhold 25% of the gross rent collected. These funds are remitted to the CRA monthly.
Each February we will send the owner an NR6 tax receipt showing the gross rents and the tax withheld and remitted on the owner's behalf for the prior year.
The Non Resident taxpayer must file for each calendar year on or before June 30th of the following year to claim the operating expenses related to rental income.
If you are a Non Resident for Canadian tax purposes, please advise us so we can provide you with the required forms for your signature.
Should you have any further questions regarding non-resident taxes, please contact:
'T1 Client Assistance'
Canada Revenue Agency
9755 King George Highway
Surrey, BC, V3T 5E5, Canada