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I have a rental property in Canada and I live in the US. Didn't knew about the 25% tax withholding on gross rental income. What are my options now? How can i pay tax to CRA. I would also like to claim a tax refund under Section 216 after deducting expenses like mortgage interest, maintenance, property taxes etc. however i am ready to pay 25% as of now if that is what is required to be done. Please advise.
Hi Rajan,
Please contact the CRA, non-resident withholding tax department, apply for a non-resident remitter number and make the payment for the past-due amount. Then, request an NR4 Proforma from the CRA. The last step to get a refund is to file a Section 216 Non-Resident Return.