Tag: Personal Income Tax

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...

The Income Tax Act allows you to deduct a reasonable amount of expenses you incur for the purpose of earning business income or property income, subject to exceptions. Automobile expenses are one of the expenses that you can deduct when...

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...

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...

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. ...

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...

I started investing in 2013.   My very first investment property was a student rental in St Catharines.  Back then, the purchase price of these properties was in the mid-$200s.  The rent for 6 bedrooms was $2,700 in total.   If you...

Earlier this week, I got the opportunity to be a panelist at an entrepreneur learning event. One of the presenters, who was a financial advisor, shared the following example (which I adapted and made some small changes): A guy borrowed...