Can You Explain Canada’s New Proposal to Tax Non-Resident Homeowners?
If approved, residential property owners who aren’t Canadian citizens and live in other countries would have to pay a 1% tax By V.L. Hendrickson |
Save
Danielle Donders / Getty Images
Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week’s question.
Q. Can you explain the proposal to tax vacant residential property owned by non-resident, non-Canadian owners being considered in Canada?
A. The government of Canada released its Budget 2021 last week, which included a proposal to tax vacant homes owned by foreign property owners who don’t reside in the country.
Mansion Global
The 110-acre estate includes thick forest and a lavish 16,000-square-foot main house By Liz Lucking |
Save
Constance Gauthier
Constance Gauthier
•••••
As of Tuesday, the highest-priced home on the market in West Virginia is a gargantuan $19.5 million estate in the city of Summersville.
The price tag attached to the newly listed stately spread dwarfs anything else available to buy in the Mountain State, with the second priciest listing clocking in at $13 million.
Built in 2010, “this home is a true retreat, where you can get away from it all and live in luxury,” listing agent Marin Hagen of Coldwell Banker Realty told Mansion Global in an email.
Mansion Global
Maui Spec Home Sells for Record $24.6 Million
The oceanfront property, the most expensive to sell on the Hawaiian island in five years, offers direct access to a white sand beach By V.L. Hendrickson |
Save
Dante Parducci for Island Sotheby s International Realty
1 of 10
Dante Parducci for Island Sotheby s International Realty
1 of 10
•••••
A new beachfront home in Maui sold for $24.6 million on Friday, the most expensive transaction on the Hawaiian island in five years, Mansion Global has learned.
The sale of the four-bedroom, five-and-a-half bathroom home was about 18% more than the next priciest residence in the same ZIP code, according to listing records on Zillow. The superlative deal reflects late-pandemic appetite among affluent buyers for Hawaiian homes.
President Richard Nixon s nine-bedroom Western White House where he retreated after the Watergate scandal to write his memoirs goes on the market again for $65 million after failing to sell for six years
The 5.45 acre Spanish-style presidential compound was home to the 37th president president of the United States and his wife Pat for nearly two decades
The California native purchased the oceanfront compound at the beginning of his first presidential term in 1969 and utilized the home for political meetings with various world leaders and gatherings with celebrities
The property has been on and off the market since 2015 and was most recently listed in May 2019 for $57.5 million but taken off the market at the beginning of 2020