Quick Tips For Snowbirds

• If you would like to apply to become a resident of another country, you can do so without affecting you status as a Canadian resident.
   
• Becoming a resident of a country is an important consideration if you are planning to purchase property. It may be difficult to guarantee your property rights if you are considered a tourist.
   
• If you own foreign property worth more than $100,000, you must report this to the Canadian Revenue Agency. You could face substantial penalties if you fail to do so.
   
• It is important to determine whether the country you are planning to visit has a tax treaty with Canada. If there is no formal tax treaty, you may be subject to double taxation.
   
• If you are planning on spending substantial time in the U.S., you will need to know if you are a "resident alien" or a "non-resident alien" - a determination made by the IRS. Your status as a U.S. resident will affect the way you pay tax.
   
• Be aware that the majority of provincial health care programs may terminate your benefits if you are out of Canada for more than six months.