Altro & Associates, LLP

Altro & Associates, LLP

September 15, 2011 15:52 ET

MEDIA ADVISORY: "Misinformation" is the Biggest Issue Facing Canadians and U.S. Property Ownership

According to Canada's Top Legal Expert David A. Altro and Author of Book Owning U.S. Property the Canadian Way, 2nd Edition

David A. Altro Will Be on Book Tour in Calgary and Edmonton Sept 20th-23rd

TORONTO, ONTARIO--(Marketwire - Sept. 15, 2011) -

ATTENTION ASSIGNMENT EDITORS, PRODUCERS

Many Canadians seek refuge from harsh winters by heading south to the sunny skies and sandy beaches of Florida, Arizona, California and other Sunbelt States. An amazing window of opportunity exists for Canadians to buy U.S. property at very affordable prices. Since 9/11 the financial world has changed and in the age of global terrorism, governments keep a tight watch on financial transactions and the movement of money.

"Misinformation" is one of the single most common issue facing Canadians and U.S. property ownership. Poolside attorneys are quick to say:

· Canadians don't have to pay U.S. Estate taxes.
· Power of attorney will be recognized in the U.S.
· You don't have to declare U.S. capital gains on your taxes in Canada.

It's big time "FRAUD" for Canadian's thinking about not reporting income generating in the U.S. Buyer Beware:

  • Property sales taking place in the U.S. are subject to a 10% US holding tax. IRS reports to Canada's Revenue Agency any transactions involving Canadian citizens.
  • The U.S. capital gain tax rate can be 35% or 15%.
  • U.S. estate taxes can run as high as 55% in the new tax environment proposed by the government.

To help Canadians better protect their U.S. property investments, there is one book everyone should read: Owning U.S. Property –The Canadian Way, 2nd Edition by David A. Altro.

Learn more about the book www.altrolaw.com.

Contact Information

  • For more information, receive copy of book or
    to arrange interviews, please contact:
    Montana Ridge
    Ms. Parmjit Parmar
    416-750-0966
    Parmjit@montanaridge.com