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[ad_1] At a time when Canada, just like every other country, is looking for highly skilled workers, our tax rates make it more difficult for them...
[ad_1] Gifting some or all of a rental property The act of adding a name to a property itself does not give rise to capital gains...
[ad_1] Should you keep renting a cottage or buy one? You don’t need me to explain the personal perks of having a vacation home or a...
[ad_1] You mention that the cottage deed is in your name only right now. That suggests that it was either in your name all along or...
[ad_1] According to the Canada Revenue Agency (CRA): “To make this election, attach a letter signed by you to your income tax and benefit return of...
[ad_1] There are a number of expenses that can be claimed to reduce the capital gain on your cottage, Louise. Capital expenses are an example. The...
[ad_1] It sounds like you sold or are planning to sell a property in the U.S., Bob. To cut to the chase, selling costs, like a...
[ad_1] Many non-financial assets depreciate in value. Cars, furniture and other such assets tend to be worth less over time, and they are generally not subject...
[ad_1] How an asset transfer between spouses is taxed First off, a transfer of assets between spouses is by default done on a tax-deferred basis at...
[ad_1] If you are going to sell next year, it is worth paying $833 of tax a year earlier? Think of it like debt. Imagine you...
[ad_1] The new capital gains inclusion rate There has been speculation in recent years about an increase in the capital gains inclusion rate. Currently, one-half of...
[ad_1] Capital gains tax, Nazim, might apply to some of your assets. If you own non-registered stocks or a rental property, for example, they might be...
[ad_1] When you inherit real estate, any accumulated tax, if applicable, is generally paid by the estate of the deceased. This is because when a taxpayer...
[ad_1] It sounds like you are aware that you can carry back capital losses, Ramesh. If you have a net capital loss on your 2023 tax...