Cherry, Author at Real Estate Tax Tips

“Whoever can deal with the most sh@t wins!”

I heard this line the first time from Nick Karadza at the Rock Star Inner Circle member event. I’ve always been depositing my rent cheques late. Life is busy with two kids. Operating a growing business requires a lot of...

August 18, 2016

How to Calculate Tax Payable on the Sale of Your Rental Properties?

Capital cost allowance Other tax issues

How to Calculate Tax Payable on the Sale of Your Rental Properties?

Update: 2021-11-25 Recently, my clients have been asking a lot of questions about Capital gains tax and rental property. I have addressed some of the most commonly asked Q & A’s in this new post along with a youtube video....

August 11, 2016

Top 6 Considerations When Buying a Rental Property in Your Adult Child’s Name

Other tax issues Real estate investment

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...

August 4, 2016

7 Questions to Decide Whether You Should Incorporate (Part 2)

Other tax issues Real estate corporations

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...

July 27, 2016

7 Questions to Decide Whether You Should Incorporate (PART 1)

Real estate corporations

7 Questions to Decide Whether You Should Incorporate (PART 1)

Corporations provide a lot of flexibility in tax planning but the immediate cost to setup and maintain can sometimes be difficult to bear, especially for new investors who barely make any cash flow from the properties. Whether you should incorporate...

July 21, 2016

New Residential Housing Rebates: Be Aware of These Recent Court Cases!

Other tax issues Real estate rant

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...

July 14, 2016

4 Tips to Organize Your Books and Records to Protect Yourself from a CRA Audit

Other tax issues Real estate rant

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....

July 7, 2016

How To Support Your Parents and Finance Your Children’s Education with Your Rental Portfolio

Real estate rant

How To Support Your Parents and Finance Your Children’s Education with Your Rental Portfolio

Many of our friends know that we are real estate investors. Some of them ask us what we do, but very few of them actually take any actions. We don’t go around and tell our circle of friends what we...

June 30, 2016

The Amazing Secrets of Deciding to Take Out Your RRSP Money to Buy Properties Revealed!

Real estate investment

The Amazing Secrets of Deciding to Take Out Your RRSP Money to Buy Properties Revealed!

It was a beautiful weekend full of love. We spent Saturday hosting the monthly Mr. Hamilton meeting at Rock Star Brokerage’s office. We then spent a weekend with our families celebrating Father’s Day. Erwin, my husband, and his team shared...

June 21, 2016

How to Make More Money by Paying Higher Interest Rates on Your Incorporated Rental Portfolio

Real estate corporations Small business and real estate

How to Make More Money by Paying Higher Interest Rates on Your Incorporated Rental Portfolio

One of the main complaints about owning your rental portfolio in a corporation is the increased interest rate, as compared to owning them in your own name. Of course, there are a few ways to get around this problem. If...

June 9, 2016

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Author: Cherry