Owning property in Canada can yield significant profits if you understand the associated tax laws. Canadian regulations are favorable towards real estate ownership, with no residency or citizenship requirements for property ownership. Non-residents can also own rental properties but must file annual tax returns with the CRA.

In Canada, property taxes, interest on lines of credit, and expenses related to repairs and improvements are tax-deductible as long as the property remains an investment. As a real estate investor, it’s crucial to be mindful of the tax implications at every stage of the investment journey, from acquisition and rental to eventual sale.