I am a Canadian citizen and I'm considering the prospect of buying a house
in the English countryside. Ideally, I would like to be able to fix it up
and then climb the property ladder over there. Would I need to use both a
Canadian Tax lawyer and a UK Tax lawyer or just a UK tax lawyer? Would I
need to pay taxes on any profits made from selling the house in both Canada
and the UK? The plan is to put all / any profit from selling the first
house into the second house and hopefully after 3 houses keeping the final
house.
I've been to the bank here in Canada and have been told that I can get a
credit line for the amount I would need to buy the house in
England. Before I go further I need to work out what taxes I am
responsible for when selling an International property.
Is there a site on the net where I can locate good information for Canadian
residents who are thinking of buying International real estate and the pros
and cons of such an adventure?
Thank you very much for any advice you can offer.
Judy Moses
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