co-signing of a lease in Canada

[Dusy 0]

Hello

My son (living in Canada) might need a co-signer for his lease. My name would end up being on the lease but only as a guarantor. Would that be ok, or would the US consider me having some sort of residency in Canada since my name would be on the lease? Thank you!!

[cmartyn 0]

Residency in what way? Taxation? or Domicile for Immigration purposes. These are two different things. Your place of Domicile is where you are hanging your hat. Your residency for tax purposes.. well, the cosigned lease is just one of many things Revenue Canada can use against you if you in court if you have Canadian sourced income that you don't pay Canadian taxes on. I don't think the US cares at all. You have to file your taxes as a resident of the US anyways.

Edited April 29, 2007 by cmartyn

[Dusy 0]

Residency in what way? Taxation? or Domicile for Immigration purposes. These are two different things. Your place of Domicile is where you are hanging your hat. Your residency for tax purposes.. well, the cosigned lease is just one of many things Revenue Canada can use against you if you in court if you have Canadian sourced income that you don't pay Canadian taxes on. I don't think the US cares at all. You have to file your taxes as a resident of the US anyways.

I was thinking more for immigration purposes. I never even thought taxation. Thanks for pointing that out. The only Canadian source income I am getting is EI. Thanks for the answer.

[Flames9_RN 359]

Only prob I could see is that they may not accept you as the co-signer as ur a non resident of canada!!