Aussie buying overseas property in the US or Ontario

[Saint]

Hi

I'm a newbie poster here so hopefully this is in the right spot.

Summary for me - I hold both canadian and aussie citizenship but live and work in Brisbane.
I'm looking at buying some property just outside of Toronto (around Markham) and/or in South Florida. (Snowbird theory)

While realising both are two different ends to the spectrum... does anyone know what the situation is as far as geting finance in the US and Canada to complete the purchase?

Is it possible to begin with? I'm thinking it must be but I just dont know the ins and outs.

Thanks

[comet555]

It's funny you ask this question because I've been interested in the answer for a similar situation.

We're likely moving back to Canada sometime next year. I was hoping to buy a house before we arrived so that we could move straight in. I'm certain it is possible, and legal to do I'm just not sure of the tax implications.

I definitely see no big issues with getting a holiday home in Canada, but I'm not sure how the taxes would work. I would call the international tax office in Canada to find out, or alternatively check with an accountant who deals with that sort of thing in Canada.
http://www.cra-arc.gc.ca/cntct/international-eng.html

Oh, and we're also in Brisbane... small world!

[Saint]

Hopefully...
I'm getting to go to a seminar at Eatons Hill tonight which the speaker buys US and Australian properties (hes an investor himself) so it should be an interesting topic.

I know there has been discussion on it on somersoft but most of the posters there havent been too successful in buying o/seas.

I agree that there probably would be tax implications, at the end of the day you have to pay the piper but a good accountant there/here would be able to sort most of it out (hopefully)

[comet555]

I posted my question on another message board, it might be helpful (or might not).
http://britishexpats.com/forum/showthread.php?t=636307

My scenario is a bit different as we are moving over into the house within a year. However if you do a look around on that site, or do a search there you might find some more info.