Posts

Another Court Case of Principal Residence Exemption Gone Wrong

Recently, we’ve got friends and families approaching us for advice on real estate investing. One of our closest relatives, a couple of two high income individuals each earning over 6 figures, asked us where they could go next. They currently…
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New Residential Housing Rebates: You May Lose Them in These 4 Common Scenarios

On this past Election Day, I ended the 6 week fitness challenge at our gym. We did a few workouts and achieved all our personal records on certain lifts. I did 185lbs deadlift x 3 reps (never had I done this weight before, let alone…

Important News For People Who Are Claiming Principal Residence Exemption

As a child who grew up in Hong Kong, we never really celebrated Halloween. I did go to a couple of haunted houses as a teenager in Toronto, but we never really went out trick-or-treating. It was the first time I crafted a pumpkin last…
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4 Recent Tax Updates That Would Affect Principal Residence Deduction

It’s getting cold. Before it gets to freezing cold, we took our kids to a nearby farm to pick apples this past weekend. As we parked our car to enter the farm, we saw two bus loads of Chinese tourists entering the farm. I don’t…
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Principal Residence Exemption - Part 2: Sheltering Capital Gain When Building on Vacant Land

Hello fellow real estate investors, A lot of us have thought about building our dream home. Some of us have even taken this grand plan into action. But only a few recognize the tax impact on building your home on a piece of vacant land. To…
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Principal Residence Exemption - Part1: What I learned from the most recent Professional Development course

March break is underway. With the interest rate reduction announced earlier by Bank of Canada, spring market seems to be hotter than ever. Many people are interested in investing in this real estate market, especially the condo market. Recently…