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4 Ways to Minimize Taxes on Sale of Rental Properties

“Success is measured by inches, not miles.” For some of my long time blog followers, you know that my goal is to be able to do a strict pull up by the end of this year. I am still working toward that goal, slowly but surely. To…
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How to Calculate Tax Payable on the Sale of Your Rental Properties?

Hi fellow Canadian Real Estate Investors, It was my birthday weekend last week. Erwin arranged a surprised celebration party on Sunday with my best friends. He knows that I’m a geek so we once again went to an escape room. This time…
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Top 6 Considerations When Buying a Rental Property in Your Adult Child’s Name

I always knew I wanted to go to University of Waterloo, despite my parents don’t really know much about it at the time. My dad lives in Hong Kong. All he had heard of was University of Toronto. I always lived off campus, except my master…
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7 Questions to Decide Whether You Should Incorporate (Part 2)

Irene, a long time friend of mine, came by to visit a couple weeks ago. Together with Jason, we were in the same study group when we wrote the Uniform Final Exam (UFE) 10 years ago! We all graduated from the same Bachelor of Mathematics…
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New Residential Housing Rebates: Be Aware of These Recent Court Cases!

I didn’t grow up with money. My family was relying on a lot of government help when I was young. We first got into temporary housing; a similar style to townhouses, except that they were built with metal and they were tiny. We applied…
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4 Tips to Organize Your Books and Records to Protect Yourself from a CRA Audit

I had an opportunity to sit down with a very inspiring lady yesterday. She’s Chinese, grew up in Singapore. She left Singapore in her early 20's to pursue a dream in Canada. She and I shared a very similar background. She’s the second…
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5 Lessons I Learned from My 13th Tax Season

Erwin and I were at Game 2 of the Raptors against Miami Heat series. Oh, it was so much fun! Our star players were still not playing at the same level as how they used to at the regular season, but a win is a win! And we were so happy to…
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Discover 4 Little Known Exceptions to Deducting Repairs & Maintenance Expense and 3 Common Real Life Examples

Before the last blog post about the Federal budget update, we discussed the tax difference between repairs and capitalized expense. We also discussed the criteria used by CRA to evaluate whether an expense is considered current or capital in…
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5 Federal Budget Changes that Real Estate Investors Should be Aware Of

Last week, the Trudeau government came out with their budget for the first time. As a mother of two, I get upset at any tax and benefit cut against our children. There is no more Child Fitness Tax Credit (currently $1,000 maximum x 15%…

Dream Big! And What Every Real Estate Investor Ought to Know About Repairs & Maintenance Expense (Part 2)

As a mother of two children under the age of 3, a small business owner, and a real estate investor, I often find myself lacking the time to read. Audiobooks are a life saver. It is the only way I can get some new knowledge in and get inspired…