Entries by Cherry

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Unreported Global Income Isn’t the Main Cause for Canadian Housing Crisis

A recent headline from Global News caught my eyes “CRA study from 1996 found migrants bought BC luxury homes despite having low incomes”. CRA conducted a study 25 years ago in 1996 found that a majority of homes bought in Burnaby and Coquitlam were purchased by immigrants who declared minimal income.  Specifically, 33 out of […]

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6 Ways to Decide Paying Yourself Dividend or Salary

Many real estate investors and small business owners wonder if they should pay themselves salaries or dividends from their corporation.  I started off paying myself all dividends in the early days.  Nowadays, I pay myself a combination of dividends and salary. The truth is, there is no one size fits all solution.  Let’s revisit the […]

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5 Promises Real Estate Investors Should Look For in the 2021 Canadian Federal Election

We are expecting an election this fall. ☹ Our economy isn’t even fully open yet and we’re already expecting an election in September.  In 2019, I attended an event featuring Michelle Obama in Hamilton.  She was asked if she would consider running for presidency.  She said that being a president was about compromises.  When you […]

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The Quickest & Easiest Guide to Laneway House Tax Implication

Building laneway houses have become a popular investment strategy in Ontario. Most investors buy a house on a big lot, convert the original house into two units and build a brand-new laneway house in the back. These strategic investors essentially convert one housing unit to three, creating new rental supplies and significant equity for their […]

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4 Considerations You Shouldn’t Miss When Buying an Investment Property

We bought a turnkey legal secondary suite home on Hamilton market last week. It was one of the easiest purchases we have done.  What kind of investment strategy should I be buying? I’ve only invested in single family home, legal secondary suites and student rentals. We believe in cash flowing properties, just to mitigate our […]

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5 Ways to Invest Your RRSP/TFSA that Beat the Bank

Many of our clients are real estate investors and real estate agents.  They often asked me how they could potentially lower the tax liabilities and how they could use their registered funds to invest in real estate.  What they are really asking me is … how do they maximize the return on investment using their […]

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The Biggest Myth in Principal Residence Exemption

Many people have misunderstanding about property sale.   Many taxpayers are under the misconception that if he/she lives in a property at some point in time, upon sale of the property, one doesn’t have to pay taxes on the gain from the sale of property.  Even my mom was misinformed by her previous real estate agent… […]