Finance
How high tax rates hurt the economy – MoneySense
[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…
Tag: capital gain
Finance
Tax implications of adding a child’s name to your rental property – MoneySense
[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…
Finance
Yes, a cottage is an investment property—here’s how to minimize capital gains tax – MoneySense
[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…
Finance
Adding names to a cottage deed could result in big tax bills
[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…
Finance
Capital gains tax when renting out your former principal residence – MoneySense
[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…
Finance
Tax deductible expenses when selling a cottage
[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…
Finance
When are costs for a U.S. property tax-deductible in Canada? – MoneySense
[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,…
Finance
You have to sell a cemetery plot—will you owe capital gains tax? – MoneySense
[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…
Finance
How real estate is taxed during a separation or divorce – MoneySense
[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…
Finance
How much is capital gains tax in Canada?—and other questions answered – MoneySense
[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.…
Finance
Federal Budget 2024: How it will affect Canadians’ finances and taxes – MoneySense
[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,…
Finance
Should you buy life insurance to pay for tax owed upon death? – MoneySense
[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…
Finance
How to calculate the adjusted cost base of inherited property – MoneySense
[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…
Finance
How to carry back a capital loss for a tax refund – MoneySense
[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…