Because of the aggressive speculation tax in British Columbia, if we do purchase a home, it would have to be under my brother in law (and me and my wife cannot be on the title), thus technically we would be buying the property for a family member. Does that change anything legally in terms of the money? I know Canada does not have a gift tax, and the money would go through my wife's account first before she "gifts it" to purchase property under my brother in law's name.
Also in googling, this is what I found. Does this come into play? I do not suspect this would be our issue because though my spouse ia a non-resident alien, for income taxes in the US, I am treating her as a resident alien and including all her assets in my US taxes and filing married filing jointly.
"If your spouse is not a U.S. citizen, tax-free gifts are limited to present interest gifts whose total value is below the annual exclusion amount, which is $164,000 (for 2022), $175,000 (for 2023), and $185,000 (for 2024); and $190,000 for 2025. There is no lifetime gift tax credit available to offset tax where such gifts result in a tax liability"
