Hello, this is my first post here. Hope I can get some sound advice.
I have been living in South Korea for over 4 years with yearly trips to Canada in the summers. I have never filed taxes or declared non-residency.
This summer, I am buying a cottage in Nova Scotia for me to use in the summertime and also rent a little. I am going to have to reveal myself to CRA and want to do it as a non-resident. Of course I plan to pay my property taxes and any capital gains from rental income or if I ever sell the property. I don't want my income taxed by both Korea and Canada. I have strong connections to Korea now, including renting an apartment. I will get a Korean credit card and DL soon and maybe join some clubs or foundations if it helps up my residency there.
What kind of approach should I take with CRA?
I know that many Americans and Europeans own second homes in NS and their only real restrictions are when selling. They have to pay 25% of the rental income and all local property taxes. Should I be treated any differently because I am a Canadian citizen? Do any other Canadians abroad have recreational property in Canada? Should I fill out the residency determination form (nr-73/nr-74) now or later?
Any advice, suggestions or links would be much appreciated! Thanks.


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