Non Resident Tax Filing

Bolld Real Estate ManagementOwnersNon Resident Tax Filing

Non Resident Tax

PLEASE READ THE INFORMATION BELOW BEFORE FILING OUT THE FORM.

If you are a non resident you are required the remit the withholding tax from your rental income. If you are a non resident and you engaged Bolld Real Estate Management as your agent, we as your agent MUST remit the withholding tax to Canada Revenue Agency.

Who is a non resident?

Non resident is a person who does not live in Canada for the majority of the year. Even if you are a Canadian citizen you might be considered as a non resident if you live/work outside of Canada for the majority of the year. If you are not sure you can request a ruling from the Canada Revenue Agency which will decide whether you are considered a non resident or not on factual basis.

How much do I have to remit?

Every non resident is required to remit 25% of all gross rents collected unless an NR6 application was approved. If you have an NR6 application approved, you are required to remit 25% of net rental income based on your estimated net rental income calculation.

What is NR6 application and how can I apply?

NR6 application is meant to reduce a possible financial hardship that non residents might incur as a result of imposed non resident withholding tax. It is meant for persons whose net rental income is lesser or close to the 25% of their rent which would mean they would have to pay the withholding tax out of their pocket.

In order to have the NR6 application approved you must have a Canadian agent (like Bolld Real Estate Management). It does not have to be a property management. It can be your accountant or any Canadian resident the age of 19 or more. The chosen agent has to be aware of the liability comes with the role. If the non resident fails to file the tax return by June 30 of each year, the Canadian agent is responsible for payment of the difference between the remitted tax and the 25% of gross rent collected during the fiscal year.

The net rental income is calculated based on estimated rental income and anticipated expenses that are considered deductible. You can find a list of the typical expenses in the form below. Please note these are not expenses you incurred last year. It is estimated expenses for the year the NR6 application is meant for.

Can I get a refund on tax paid?

If you were remitting 25% of gross rent, you can get a refund based on actual expenses and income in the fiscal year after you file your taxes.

If you were remitting 25% of net rent as per approved NR6 application, you can still get a refund again based on actual expenses and income upon filing your tax return.

Non Resident Tax Filing

  • Personal details

  • Please enter your email address. It is usually the most common way we communicate.
  • Please enter the mailing address where you (non resident) are staying. If you do not have one, we can add one later. If that is the case please enter the foreign country of residence below.
  • if you did not fill out the field above, please enter the foreign country of your residence.
  • Please enter your SIN number if you have one or foreign canadian tax identification number. If you do not have one contact Canada Revenue Agency to get one.
  • Property expenses

  • Please enter all property related expenses. The fields below are the typical expenses that are deductible. If any one does not apply to you, please enter N/A.
  • Please enter the interest only part of your mortgage payments. Please note, only interest is deductible for the income filing purposes.
  • Please enter anticipated cost of filing of your tax.
  • Please enter the anticipated annual cost of maintenance. It could be for example landscaping, window cleaning, exterior cleaning, pest control etc.
  • ExpenseAmount 
    Add a new row
    Please enter any property related expenses you can think of.
  • Rental property details

  • Please enter the address or addresses of all rental properties that we will be remitting non resident tax for. Please enter one property per line.
  • Additional comments

  • Please enter any additional comments you fee we should be aware of.
  • I hereby confirm that all the information on this form was filled out truthfully to the best of my knowledge.
    I understand that Bolld Real Estate Management relies on this information and will not be responsible for any disputes or other dealings with the Canada Revenue Agency or other government authorities that arise as a result of misrepresentation of this information.
    I understand and agree that I am required to file my taxes by June 30 of each year and in case there is an existing NR6 application approved and I fail to file the taxes by June 30 or each year, Bolld Real Estate Management is authorized to withhold from rental income the difference between the remitted withholding tax and 25% of the gross rent collected from all my rental properties for the tax year from the time Bolld Real Estate Management starting acting as my agent for the purpose of filing/remitting Non Resident withholding tax.
  • 19/08/2018 IP address 132.148.18.110

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