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He has a home in Canada, is retired already and spends the winters golfing at his golf course condominium in Arizona. He can't wait to get again down south where he now lives in his thoughts and which is fast changing into his centre of very important interest and "closer connection." His Canadian friends have died, divorced, moved away, are still working or go south to totally different places to spend their winters. Oh sure, you get ,000 of curiosity from England for a complete of ,000 of which ,000 is taxable revenue (this is a true story by the best way). If the U.S. part of these belongings was a 0,000 U.S. A non-resident with property in Canada who sells the property is subject to a withholding tax of 33 1/3% on the GROSS sale price unless they fill out a form 2062A (sample at back of ebook) and submit it to Revenue Canada for approval. Canada. The next rates of reward and estate tax apply: Column A Column B Column C Column D Rates of Tax Taxable Taxable Tax on on excess Amount amount quantity in over amount excess -- 10,000 ---- 18% 10,000 20,000 1,800 20% 20,000 40,000 3,800 22% 40,000 60,000 8,200 20% 60,000 80,000 13,000 26% 80,000 100,000 18,200 28% 100,000 150,000 23,800 30% 150,000 250,000 38,800 32% 250,000 500,000 70,800 34% 500,000 750,000 155,800 37% 750,000 1,000,000 248,300 39% 1,000,000 1,250,000 345,800 41% 1,250,000 1,500,000 448,300 43% 1,500,000 2,000,000 555,800 45% 2,000,000 2,500,000 780,800 49% 2,500,000 3,000,000 1,025,800 53% 3,000,000 10,000,000 1,290,800 55% 10,000,000 21,040,000 5,140,800 60% 21,040,000 ---- 11,764,800 55% If this feels like I'm solely speaking about having a home in Palm Springs, Cape Coral, or Phoenix, be assured, it does not stop there.

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