Cherry, Author at Real Estate Tax Tips

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...

March 26, 2015

HST rebate Other tax issues Principal residence Real estate rant

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 I...

March 19, 2015

Other tax issues Real estate investment

Tax Filing Deadlines and Penalties

Have you been enjoying the warmer weather outside yet? Despite the great weather, I am not as lucky as my little one, who gets to enjoy the outdoors everyday. We are in the middle of March, usually the toughest time...

March 13, 2015

Other tax issues Real estate investment

How Can You Use Your RRSP to Invest in Real Estate?

Many investors ask me how they can invest their money within their Registered Retirement Saving Plans (RRSPs) in real estate without collapsing the plans and incur a large amount of tax liability. (This article applies to Registered Education Saving Plans...

March 5, 2015

Other tax issues

TFSA or RRSP: Where Should You Put Your Money?

Being a busy mom with a one year old toddler and a small business owner, it isn’t exactly easy to find time to read. Audible has actually become my best friend over the last few years. (For those of you...

February 26, 2015

Other tax issues Real estate corporations

Save $1000s in Tax Liabilities with the Proper Share Structure in Your Real Estate Corporation

Hello fellow real estate investors, Happy Chinese New Year everyone! It is the year of Goat in 2015. Our family wishes everyone a happy and healthy and prosperous year of Goat. Believe it or not, according to this Astrologer from...

February 19, 2015

Other tax issues Real estate investment Real estate rant

How to Look at the ROI on Your Investment Property the Right Way

Recently, I had a few discussions with clients that complained about not getting sufficient cash flow from their investment. This is because they weren’t sure about the types of strategies that were available to them when it came to their...

February 12, 2015

Other tax issues Real estate investment Real estate rant

Earn Money by Preserving the Principal Residence Exemption Status of Your Home!

As real estate investors, I would assume the majority of us have read the book Rich Dad Poor Dad written by Robert Kiyosaki. It was the book that changed my life and my perspective on money. Being a Chartered Accountant,...

February 5, 2015

Real estate corporations Real estate investment Small business and real estate

Tax Tip from a Retired Accounting Firm Partner About Setting Up Corporations

Hello fellow real estate investors, Just before the holidays, I had the opportunity to meet up with my long-time mentor, a retired partner at the biggest accounting firm in Canada. His practice is built primarily around small business. A lot...

January 29, 2015

Other tax issues Small business and real estate

A Little Know Secret About HST Tax and How it can Impact Your Real Estate Business

In my last blog post, we talked about what the Montreal woman should have incorporated and how she should have reported the income as active business income to avoid the expensive tax in flipping houses. Unfortunately, income tax is not...

January 26, 2015

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Author: Cherry