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 tax. There’s a…
Read more Tax implications of adding a child’s name to your rental property – MoneySenseRESP contributions grow tax-deferred and are eligible for government grants and bonds. Withdrawals are partially taxable and partially tax-free. The taxable portion can be taxed to the post-secondary…
Read more When and how to transfer an RESP for grandchildren – MoneySenseMany 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 to capital gains…
Read more You have to sell a cemetery plot—will you owe capital gains tax? – MoneySenseWhen you give cash or assets to a family member to invest, there may be attribution of that income back to you. Attribution causes income to be taxed…
Read more Can you save on taxes by owning an investment account with your child? – MoneySenseWhat is Estate Administration Tax in Ontario? Estate Administration Tax, commonly known as probate fees, is a mandatory tax imposed by the Ontario provincial government. It is placed…
Read more How to avoid or reduce probate fees in Ontario – MoneySense
