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【Wealth Succession】CANADA: CRA to audit records of US property transactions

The Canada Revenue Agency (CRA) is to carry out a tax review of six years of property transactions in the US, looking for evidence of non-compliance by Canadian taxpayers. It will examine bulk records of real estate and property data including municipal addresses, names of owners, square footage, sales histories, and property tax assessments, comparing them with its T1135 report forms for foreign properties valued over CAD100,000. ...

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