Real Estate Tax Archives

Real Estate Investments Mississauga

Eric Skicki grew up in Mississauga and has been passionate about the real estate industry since he was a child. He furthered his passion and consolidated his love for this city by practicing real estate investment in Mississauga. His Degree from York University and his management experience from running successful businesses, has helped him become … Continue reading

Canadians buying U.S. real estate through partnerships

So you’re a Canadian investor buying real estate in the US, and are confused about whether to buy with a partnership, US C-corporation, or limited liability corporation. While there are many ways that a US property can be purchased by a Canadian investor, the best legal & tax structure is the “US Partnership”. A diagram … Continue reading

Taxes on Flipping Canadian Real Estate – Capital Gains vs. Business Income

These days, it seems as though buying a property and then reselling it at a higher price is all the rage. On the surface, it seems like a terrific idea – buy a property, perhaps spend a little time and money fixing it up, and then sell it for a tidy profit. In today’s still-fragile … Continue reading

I rent out a residential property. What are some tax implications, with regards to sales tax?

Rental income is a GST/HST exempt supply. This means that you cannot charge GST/HST on rent. Furthermore, you may incur expenses in the course of renting out your property on which you may have paid GST/HST, such as management fee, supplies, etc. Normally, you can claim this GST/HST paid on expenses as Input Tax Credits … Continue reading

Taxes On Your House

You don’t pay taxes on your house when you sell it, unless you do certain things to it like rent it out, or if you own multiple homes. This article will describe the rules around the taxes on your house, and the key definitions and criteria. It will also describe how taxes may arise, in … Continue reading

Real Estate Trends to Rule 2014

Millennials are not driving the market as much as homeowners Although the Millennial generation has formed a hot topic in the media, the movers and shakers of real estate are keen to find out where the generation is heading to. The generation has indulged in various economic activities, in the real estate market, in certain … Continue reading

How to maximize Deductions for a New House Purchase?

The CRA provides taxpayers with tax relief in this situation by way of the principal residence exemption. When you own two homes in a year the year or subsequent year, you can elect to have both of those homes treated as your principal residence in those years. This is because the principal residence contains ” … Continue reading

US Taxes Payable by Canadians on US Real Estate Sales

Following the crash of the real estate market in 2008, US real estate has been an attractive investment opportunity for investors from all over the world, including Canadians. Although the old adage of “real estate prices always go up” has been proven wrong, one of the major benefits of owning real property is still the … Continue reading

The Best Property Managers Are Accomplished Jugglers

Even though real estate investing is not the “cash cow” that some promoters would have you believe it is, rental properties can provide a careful investor with a very nice income stream and a solid real estate portfolio. Real Estate Investing for Dummies has a “Cheat Sheet” that provides some proven tips for success. Becoming … Continue reading

New Year Prediction for Property Sale in Canada

The Prairie sales forecast is also on the rise. Alberta and British Columbia are the provinces according to CREA, where its annual sales will supposedly rise as compared to the previous year. Prediction for National Activity: Next year, 2014, will witness national activity reach 465,600 units with a 3.5% rebound while keeping within its average … Continue reading

Non-Residents Earning Rental Income from Real Estate in Canada

Non Residents of Canada earning rental income from Canadian real estate have Canadian tax obligations. This article identifies the different forms and returns that can be or are mandatory to be filed with the CRA regarding the rental income earned. Background When non-residents receive rental income from real property in Canada, taxes on the income … Continue reading

Real Estate Sales & Taxation

If you own a rental property or a real estate investment in Canada, and have sold or are thinking of selling, then it is very important that you read this article because it provides helpful tax tips that can save you $$$ thousands.

As a non-resident with rental property in Canada, am I required to remit 25% to the CRA?

I am a non-resident of Canada and I have a rental property in Canada. I have recently found out that I am required to remit 25% of the gross rent to the CRA as a withholding tax on a monthly basis. Can I make this payment myself? As per the CRA ruling, an individual who … Continue reading

Property Management Tips for Real Estate Investors

My name is Allan Madan, your trusted accountant. I am also a real estate investor in the United States, Canada, and India, and I would like to share my experiences on the best practices for property management tips with you. This article is called ‘Property Management Tips for Real Estate Investors’.

Property Management Tips for Real Estate Investors Watch Video

My name is Allan Madan, your trusted accountant. I am also a real estate investor

Tag: Real Estate Tax