Comparing Investment Plan Alternatives – What are they and how can they work for you?

This week’s blog is about the different types of investment accounts an individual can open up in Canada. Since we are right around the first 60 day mark, which means the last chance to contribute to RRSPs for the 2018 taxation year, I figured it’s a great time to explain ...

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Tax and other benefits for people with children

Last week we discussed what employment expenses are, and who can deduct these types of expenses. If you missed that blog, you can find that blog right here. Today I will be blogging about a subject that is very important to ...

Which employment expenses do I qualify for?

Hi everyone Hope you enjoyed my two recent articles linked to Non-Residents.  These articles can be found with the rest of the real estate blogs I have written in the past, here. Today I turn my attention back to the residents ...

I am a Non-Resident and I am selling my Rental Property in Canada

Last week we looked at how a non-resident individual who owns property in Canada would report rental income. With this week’s topic, we’ll look at what non-residents who want to sell their property would need to do in terms of reporting this property. ...

First is the issue of requirements, which includes having either a Social Insurance Number (SIN) or an Individual Tax Number (ITN). Social Insurance Numbers are granted to residents/citizens of Canada through application and allow you to invest or work in Canada – including owning a property. Alternatively, those who are not eligible for a Canadian SIN apply for Individual Tax Numbers by filing form T1261, which is subsequently filed with the income tax return. T1261 forms are not easy to file, for your own benefit enlist the help of a professional to file it.

I am a Non-Resident and I own a Rental Property in Canada

It’s been a while since I’ve been able to write a blog. Personal life has taken a big chunk of my time, after getting married and with the birth of our son it’s been a challenge to find the time. ...

Assignment Sale

Assignment of a Right to a Property and the Tax Implications That Follow Part 2

In the first part of this article, we discussed how the CRA may view an assigned property, specifically the possibility that they may view the assignor of a property as a builder, and examined the related HST implications that ...

Assignment

Assignment of a Right to a Property and the Tax Implications That Follow Part 1

With the strength of the preconstruction market over the past decade, many have chosen to reap the benefits by purchasing property on plan from a builder and subsequently selling the rights to the property, with a markup, to another buyer ...

So I’m a First Time Home Buyer, What Do I Need to Know?

Congratulations, you are on your way to purchasing your dream home, here is what you should know about the biggest investment of your life. Purchasing a home in this day and age is an expensive proposition, one must be mindful of ...

Clarifying the Home Buyers’ Plan RRSP withdrawal process

You can find a brief summary of the Home Buyers Plan (HBP), and associated credits on my website here:  For this posting, I will focus on the HBP RRSP credit, specifically as it pertains to clarification of the process as well ...

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