Blog - Real Estate Tax Tips

How US-Canada Tariffs Are Changing Real Estate

Who benefits from tariffs? Who really pays the price? Today, we’re diving into tariffs—specifically, the new 25% tariffs US government is imposing on most Canadian goods and Canada’s 25% retaliatory tariffs against the U.S. goods, and what this means for...

February 4, 2025

Capital Gains Tax Chaos: What’s Next for 2025

Tips Updates

Capital Gains Tax Chaos: What’s Next for 2025

What’s the Deal with Capital Gains? When you sell something valuable—like a property or investments—and make a profit, that’s called a capital gain. Right now, in Canada, only half (50%) of that profit is taxable. This is known as the...

January 2, 2025

Income Tax Update 2025: What’s Changing?

Tips Updates

Income Tax Update 2025: What’s Changing?

As we move into 2025, several key tax changes will impact Canadians. From income tax bracket adjustments to new rules for short-term rentals and trust reporting, here’s everything you need to know about the income tax update to plan ahead....

December 19, 2024

13 Year-End Tax Tips You Don’t Want to Miss

Tips Updates

13 Year-End Tax Tips You Don’t Want to Miss

As 2024 wraps up, it’s time to take control of your finances, reduce taxes, and prepare for a successful 2025. Whether you’re contributing to savings accounts, taking advantage of new tax breaks, or managing investments, these actionable Year-end tax tips...

December 13, 2024

The GST/HST Holiday: Real Savings or Just Holiday Hype?

Tips Updates

The GST/HST Holiday: Real Savings or Just Holiday Hype?

The Canadian government is promoting the GST/HST holiday as a great way to help families save this holiday season. From December 14, 2024, to February 15, 2025, many everyday items including: will be temporarily exempt from GST and HST. But...

December 5, 2024

Tips Updates

Short-Term Rental Tax Trap

How to Protect Your GST/HST Exemption When Leasing Property Short-term rental leases of less than 30 days are generally subject to GST/HST. This means that short-term rental landlords should be charging GST/HST on these rentals and filing GST/HST returns accordingly....

November 14, 2024

Should Small Business Owners Continue to Invest Through Their Corporations?

Capital Gains Tax Corporation Tips

Should Small Business Owners Continue to Invest Through Their Corporations?

This post is for small business owners who have been investing inside their corporation. If you are just starting out, or if your investment funds come from your personal accounts, this may not be for you. For those of you...

November 7, 2024

Interest Rate Cut: What It Means for You

Real estate investment Real Estate Investors Tips Updates

Interest Rate Cut: What It Means for You

It’s been quite a rollercoaster for me since the beginning of August. I’ve been caught in a cycle of colds—recovering just in time for trips, only to fall ill again upon returning. It’s strange, isn’t it? How travel seems to...

October 24, 2024

New CRA Trust Reporting Rules: What You Need to Know

Real estate investment Real Estate Investors Tips Updates

New CRA Trust Reporting Rules: What You Need to Know

Recall the chaos of 2023? The CRA unveiled new trust reporting rules, only to abruptly cancel them, leaving taxpayers and accountants scrambling. Now, they’re back with a revised proposal, aiming to simplify and clarify the rules. But have they succeeded? Let’s...

October 11, 2024

Best Structure to Purchase Investment Properties in the United States Part 2

Real estate investment Real Estate Investors Tips Updates

Best Structure to Purchase Investment Properties in the United States Part 2

A couple of weeks ago, we talked about how buying properties outside of Canada generally would not yield at double taxation. The only condition to avoid double taxation would be (1) right timing and (2) right structure. So what is...

September 19, 2024

Best Structure to Purchase Investment Properties in the United States Part 1

Real estate investment Real Estate Investors Tips Updates

Best Structure to Purchase Investment Properties in the United States Part 1

Canadian tax residents are taxed on worldwide income. If you operate a short-term rental in Japan, you are required to report the income you earned in your Canadian tax returns. If you invest in a pre-construction home in Dubai, you’re...

August 22, 2024

Navigating the New Capital Gains Inclusion Rate

Capital Gains Tax Real estate investment Real Estate Investors Tips Updates

Navigating the New Capital Gains Inclusion Rate

What Real Estate Investors Need to Know The Canadian government recently announced changes to the capital gains inclusion rate, a significant shift that was first introduced in the 2024 budget. Now that the motions have been tabled to pass this...

June 13, 2024

How to Maneuver Through the Tax Hike in the Federal Budget

Capital Gains Tax Real estate investment Real Estate Investors Tips Updates

How to Maneuver Through the Tax Hike in the Federal Budget

In the wake of the recent federal budget 2024 announcement, uncertainty looms large for many of us. As we await the release of the legislation, it’s challenging to provide concrete advice to our clients. It’s reminiscent of the bare trust...

April 26, 2024

Capital Gains Tax Real estate investment Real Estate Investors Tips Updates

The Unfair 2024 Federal Budget

We’ve all heard about the news by now, but below are the summary of how the 2024 Federal Budget affects real estate investors in Canada. Proposed Changes to Capital Gains Inclusion Rates The proposed adjustments to capital gains inclusion rates...

April 18, 2024

LP/GP Unraveled: Tax Efficiency and T5013 Clarifications for Investors

Real estate investment Real Estate Investors Tips Updates

LP/GP Unraveled: Tax Efficiency and T5013 Clarifications for Investors

Investing in Limited Partnerships (LPs) within the LP/GP structure offers unique opportunities and benefits for real estate investors. LPs provide investors with the chance to participate in lucrative ventures while minimizing active management responsibilities. However, navigating the complexities of LP...

April 5, 2024

Your T1 Tax Roadmap: 8 Key Tips for a Smooth Journey

Real estate investment Real Estate Investors Tips Updates

Your T1 Tax Roadmap: 8 Key Tips for a Smooth Journey

Navigating the complexities of tax filing and compliance in real estate investing can be a daunting task. From accurate reporting of rental income and expenses to understanding the implications of property sales and capital cost allowances, there’s a myriad of...

March 28, 2024

Big News for Bare Trusts: CRA’s New Take on T3 Filing Penalties

Real estate investment Real Estate Investors Rental Property Tips Updates

Big News for Bare Trusts: CRA’s New Take on T3 Filing Penalties

You might recall my previous post where we dissected the new reporting rule affecting real estate investors, particularly revolving around the implications of bare trust arrangements and the requirements for T3 trust income tax and information returns. If you missed...

March 21, 2024

To Sell or Not to Sell: Making Smart Decisions about Your Real Estate Investments

Real estate investment Real Estate Investors Rental Property Tips

To Sell or Not to Sell: Making Smart Decisions about Your Real Estate Investments

1. Conducting a Realistic Financial Check – are you having negative cash flow monthly: 2. Consider the Implications of Selling from a cash flow perspective and tax perspective: 3. Utilizing the Proceeds from the Sale: When it comes to utilizing...

March 14, 2024

How To Claim Home Office Expenses (2024 Update)

Life Lessons Other tax issues Small business and real estate Tips Updates

How To Claim Home Office Expenses (2024 Update)

Working from home has become increasingly common, and for many Canadians, it’s here to stay. But what about claiming home office expenses on your taxes? The rules have changed. This blog post and my latest video on YouTube breaks down...

March 8, 2024

Trusts in Real Estate: Lessons from a Key HST Court Case

Life Lessons Other tax issues Small business and real estate Tips Updates

Trusts in Real Estate: Lessons from a Key HST Court Case

Are you familiar with the concept of trust relationships? Trust agreements, trust relationships, and bare trustees describe a legal arrangement where the legal owner of a property (on title) differs from the beneficial owner. Common law generally accepts this relationship,...

February 29, 2024

Navigating the Tax Implications of Owning International Real Estate

Articles Life Lessons Other tax issues Small business and real estate Tips Updates

Navigating the Tax Implications of Owning International Real Estate

When you own properties outside of Canada, it imposes another layer of complexity. Let’s explore the tax implications of owing international real estate. You are responsible for the income tax filing in the country that you earn the rental income. Upon...

February 22, 2024

Departure Tax & Ongoing Tax Filing Obligations

Articles Life Lessons Other tax issues Small business and real estate Tips Updates

Departure Tax & Ongoing Tax Filing Obligations

Last week, we clarified what it means to be a Canadian tax resident and how to determine if someone is a Canadian tax resident based on it’s residency ties. This week we are talking about departure tax & ongoing tax...

February 5, 2024

Tax Implications on Leaving Canada Permanently

Articles Life Lessons Other tax issues Small business and real estate Tips Updates

Tax Implications on Leaving Canada Permanently

In the last few years, more and more people are asking us on how to leave Canada permanently as a tax resident. Recognizing Canadian citizen is not the same as Canadian tax resident You can be a Canadian citizen and...

January 25, 2024

Articles HST rebate Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

Top 10 Financial Tips to Kick-Off 2024

2024 brings new opportunities and challenges, and being financially savvy is more important than ever. I dive into essential financial tips that I practice regularly to empower my real estate investment journey and personal finances. Join me, as I break...

January 18, 2024

Everything Canadians Need To Know About Tax Changes 2024

Articles HST rebate Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

Everything Canadians Need To Know About Tax Changes 2024

What are the biggest tax changes in Canada in 2024, and how will they affect you? This blog post will provide an overview of the upcoming Tax Changes in 2024. I’ll simplify the key updates that will impact your finances,...

December 14, 2023

Everything You Need to Know About NEW Enhanced HST Rebate in Ontario

Articles Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

Everything You Need to Know About NEW Enhanced HST Rebate in Ontario

Introduction: The Canadian real estate scene is abuzz with the latest updates on GST rebates for new builds, particularly targeting new purpose-built rental housing. This move promises to transform the construction industry significantly. The Federal GST Rebate on New Builds:...

December 7, 2023

Top 3 Federal Economic Updates that affect Real Estate Investors

Articles Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

Top 3 Federal Economic Updates that affect Real Estate Investors

1. Underused Housing Tax (UHT): Have you ever heard about why we have Underused Housing Tax act in Canada? Our Canadian government told us that UHT is meant to target non-Canadian owners leaving their residential unit vacant and limiting the...

November 24, 2023

Another NEW reporting rule that Affects Real Estate Investors

Articles Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

Another NEW reporting rule that Affects Real Estate Investors

The trust reporting has been announced by the government for a number of years. This new trust reporting rule was supposed to be implemented by the government in 2022, but they decided to prioritize the Underused Housing Tax Act implementation...

November 3, 2023

New GST Rebate on New Built & Its Impact

Articles Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

New GST Rebate on New Built & Its Impact

The recent announcement by the Canadian Prime Minister about the GST rebate on new built is making waves. This move, particularly focused on new purpose-built rental housing, promises a major shift in the construction industry. If you’re constructing properties with...

October 3, 2023

Canada’s Emergency Business Loan Account (CEBA) Update

Articles Capital Gains Tax Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

Canada’s Emergency Business Loan Account (CEBA) Update

The financial landscape for Canadian businesses has seen dramatic shifts in the recent past. Amid these changes, the Canada Emergency Business Account Loan (CEBA) has emerged as a lifeline for many entrepreneurs and business owners. With the recent announcement of...

September 21, 2023

How to Use AI to Advance Your Real Estate Investment Journey

Lately, I’ve been super interested in how new technology, especially AI (short for Artificial Intelligence), is changing the world of real estate. Over time, I’ve seen how professionals across industries, including myself, are keenly exploring AI to simplify tasks and...

September 7, 2023

How to Navigate Seller Financing and Their Tax Implications

When it comes to seller financing or, as some may call it, vendor take-back mortgages, real estate presents an innovative solution akin to toy-sharing. Picture this: You want a toy but can’t afford it immediately. Instead of waiting, your friend...

August 31, 2023

How Canadian’s can Protect their Wealth by Investing in Global Real Estate

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips

How Canadian’s can Protect their Wealth by Investing in Global Real Estate

Real estate has always been a robust pillar in the investment portfolios of Canadians. I had the pleasure of speaking with Francois Lanthier, one of my esteemed clients, about his expansive journey through the world of real estate, which started...

August 24, 2023

What You Need to Know about Tax Implications Upon Death

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

What You Need to Know about Tax Implications Upon Death

Many individuals live under the mistaken belief that death equals the end of tax obligations. They think that if they don’t sell their properties during their lifetime, their tax liabilities cease with their demise. However, this couldn’t be further from...

July 20, 2023

How to Turn Your Mortgage into a Tax-Deductible Machine

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

How to Turn Your Mortgage into a Tax-Deductible Machine

Are you looking for ways to make your primary residence mortgage tax-deductible? In this blog, we will explore a five-step process that can help you convert a non-tax-deductible primary residence mortgage into a tax-deductible one. By implementing this strategy, you...

July 13, 2023

How to Master Budgeting & Financial Management for Success

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

How to Master Budgeting & Financial Management for Success

In today’s current market, effective budgeting and financial management are crucial skills for individuals and businesses alike. Whether you’re striving for personal financial security or aiming to grow a successful business, understanding how to manage your money and make informed...

July 6, 2023

Court Case Reveals Tips & Tricks on Income Splitting for Tax Savings

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

Court Case Reveals Tips & Tricks on Income Splitting for Tax Savings

Today, we are diving deep into the world of income splitting. As Canadian taxpayers, I’m sure you’re all curious about how you can use this strategy to potentially lower your family’s overall tax liability! You see, we operate under a...

June 22, 2023

What You Need To Know About Multigenerational Home Renovation Tax Credit

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

What You Need To Know About Multigenerational Home Renovation Tax Credit

Are you planning to renovate your property to create a common space for grandparents, parents, or other qualifying relatives? If you are, understanding the Multigenerational Home Renovation Tax Credit [MHRTC] can help you leverage tax benefits and ease the financial...

June 8, 2023

7 Strategies For Mastering Cash Flow in Real Estate Investing

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

7 Strategies For Mastering Cash Flow in Real Estate Investing

Are you worried about managing the cash flow in your real estate portfolio? Do you know how to effectively manage your real estate investments? Cash flow management is a critical aspect of real estate investing that can greatly impact your...

June 2, 2023

Property Management Solutions to Empower Landlords

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

Property Management Solutions to Empower Landlords

Are you a landlord or an aspiring real estate investor seeking a more comfortable renting experience? Look no further! In this blog post, we’ll dive into an insightful interview with Hart Togman, the CEO of Rent Panda. We explore how...

May 25, 2023

Are We Double Taxed If We Earn Income In A Corporation

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

Are We Double Taxed If We Earn Income In A Corporation

Have you ever wondered if earning income through a corporation means paying twice the amount of taxes compared to individuals who earn income in their personal name? This common misconception, often referred to as double taxation, has misled many individuals....

May 19, 2023

Maximize Your Success: 7 Tips for Launching a New Business from a Licensed Accountant

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

Maximize Your Success: 7 Tips for Launching a New Business from a Licensed Accountant

When you first start your business, it’s difficult to see when you’ll make money. A recent entrepreneur I spoke to had just started reporting net income for the first time after seven years in operation. As you can see, it’s...

May 12, 2023

Stay ahead of the game: US Regional Bank Collapses, Interest Rate Hikes & More Economic Update

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

Stay ahead of the game: US Regional Bank Collapses, Interest Rate Hikes & More Economic Update

Are you concerned about the current state of the market? Are you wondering how reduced interest rates due to banks collapsing, the impact of the US-China war on the global economy, and inflation might affect you? If so, I’ve invited...

May 5, 2023

<strong>How Property Flips Are Taxed in Canada</strong>

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

How Property Flips Are Taxed in Canada

Flippers and renovators often overlook the tax implications of their property transactions, leading to costly misconceptions. One such misconception is the belief that only 50% of the profit from selling a house is taxable. However, if the property was not...

April 6, 2023

What Everybody Ought to Know About Trust, Trustee & Trust Agreement

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

What Everybody Ought to Know About Trust, Trustee & Trust Agreement

You might not have a proper family trust setup; you might not even know anything about trust at all… Before you stop reading, you might want to see if any of these scenarios apply to you… Guess what, under most...

March 9, 2023

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Small business and real estate Tips Updates

How Rental Income is Taxed in Canada

How rental income is taxed in Canada really depends on the type of ownership structure you have. The most common form of ownership structures are: How rental income is taxed will really be driven by the form of ownership you...

March 6, 2023

10 Tips on Making 2022 Tax Filing a Breeze

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Small business and real estate Tips Updates

10 Tips on Making 2022 Tax Filing a Breeze

Last week, we discussed a very stressful but relevant topic – the Underused Housing Tax Act. I thought we could use some lighter topic, and somewhat more relevant topic this week – top tips on how to prep for your...

February 23, 2023

Underused Housing Tax Act Applies to You

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Small business and real estate Tips Updates

Underused Housing Tax Act Applies to You

To prevent foreign buyers from purchasing Canadian residential properties and holding them vacant, the Canadian Federal government announced in the 2018 budget that they would implement the new Underused Housing Tax Act (UHT). And this new act is finally effective...

February 16, 2023

Everything You Need to Know About 2023 Tax Changes

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Small business and real estate Tips Updates

Everything You Need to Know About 2023 Tax Changes

Here’re some of the tax updates for 2023. Personal income tax marginal tax rate RRSP contribution limit CPP contribution increase TFSA contribution limit Automobile deduction Introduction of FHSA account And there’re many more… Watch the Youtube video below… Until next...

January 26, 2023

Everything You Need to Know About the NEW Toronto Vacant Home Tax

Articles Life Lessons Other tax issues Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Small business and real estate Tips Updates

Everything You Need to Know About the NEW Toronto Vacant Home Tax

Are you a City of Toronto homeowner? If so, you would have received a yellow letter from the City asking you to submit a declaration form by Feb 2, 2023 about the occupancy status of your residential homes in Toronto...

January 5, 2023

Top 10 Year-end Tax Planning Tips for Canadians

Articles Corporation Life Lessons Other tax issues Real estate corporations Real estate investment Real Estate Investors Real estate rant Realtors/real estate agents Rental Property Should I incorporate?Small business and real estate Tips

Top 10 Year-end Tax Planning Tips for Canadians

It’s hard to believe that it’s almost Christmas time. Christmas time also means it’s the end of the year. It’s also the time of the year that we do some planning with our clients. Looking for ways to maximize your...

December 22, 2022

The Quickest & Easiest Way to Understand Anti-Flipping Rule

Do you know that CRA is implementing a new anti-flipping rule in 2023? When you make a profit from the sale of a property that you own for less than 365 days, the profit you make is deemed to be...

December 15, 2022

Everything You Need to Know About REIT Taxation

One of the biggest complaints that I’ve got from working with hundreds of investors is that real estate investing doesn’t give you much cash flow. Using my mom’s Toronto house as an example, she’s owned it out right for many...

November 28, 2022

3 Structures to Own Student Rentals for Your Kids

I had dinner with my family last weekend. At the dinner conversation, my aunt was asking us how expensive it was to purchase a property in Oakville, where I live. Her friend’s daughter and niece are both in Sheridan College...

November 3, 2022

Everything you need to know about Preconstruction Assignment Sales

Have you sold pre-construction homes before closing on assignments? Have you wondered about what are the tax implications on selling pre-construction homes before closing? We often advise our clients to not to sell their pre-construction homes before closing if possible. ...

October 21, 2022

Interest Rate Hike Coming & 5 Ways to Ease Interest Hike Pressure

The US Consumer price index in September 2022 rose 0.4% and were up 8.2% from a year ago. Core inflation rate also went up, higher than the market expected. Why do you and I care about these numbers? The US...

October 13, 2022

Five Steps to Quit 9 to 5 Job Using Real Estate

Last week, I had the liberty to sit down with my long-time mentor, Quentin D’ Souza. Quentin is a published author of 7 books, founder of Durham Real Estate Investment Club, and has over $120 million asset under management. We...

September 1, 2022

Tax Implication on Claiming Insurance on Property Damage

Have you ever suffered any losses from your rental property? A client of mine came to us with some unfortunate news. His rental property got completely burneddown. Thankfully, he was able to recover from the insurance company the replacement cost...

August 26, 2022

5 Impacts on Transferring Rental Properties into a Corporation

Articles Corporation Real estate corporations Real estate investment Real Estate Investors Rental Property

5 Impacts on Transferring Rental Properties into a Corporation

Real estate investors usually start investing in their personal names. It’s easy, simple, and the cheapest form of ownership. Once they test the water, many of them decide that they will continue their investing journey. Some investors even take it...

November 9, 2017

Rent to Own Programs: The Best Passive Income Real Estate Investment in Canada

Other tax issues Real estate rant Small business and real estate

Rent to Own Programs: The Best Passive Income Real Estate Investment in Canada

This year marks the 23rd anniversary of my time spent living in Canada. I wake up every morning feeling grateful to live here in an established economy with freedom. It is a beautiful country to live in, don’t get me...

September 16, 2014

1 2 … 50 51

Sign Up for Our Newsletter

About Us

Free Resources

Get Your Copy Here

Get Your Copy Here