Real estate investment

Guidelines for the Ontario New Home HST Rebate The Ontario New Home HST Rebate applies specifically to homeowners who will reside in the home (or condo). Canada Revenue Agency requires the homeowner to be the principal resident of the property for at least one year after purchase. A homebuyer can also be eligible for the HST rebate when a direct family member is a principal resident. This...

Some ways to reinvest your New NRRP Rebate For many residential rental home owners, the NRRP Rebate can be substantial, and can therefore be re-invested to support the rental property. The important thing is to do everything by the book. adding or upgrading furniture in order to secure higher rent renovating the rental property (again to rent at a higher rate) saving for emergencies...

Landlord Fees that are Tax Deductible In general, you can deduct most reasonable expenses that are related to your rental income. The Canadian government defines these expenses as either current or capital. Current costs reoccur on a regular basis, such as painting the exterior of a building or cleaning eavestroughs. Capital expenses occur less frequently but provide a lasting benefit, such as...

Condo flippers should understand what defines a real estate flip Be aware "condo flippers" if you’re planning to sell a condo that you’ve recently bought as an investment, be aware that CRA is watching carefully – especially if you’ve never moved in. Indeed, CRA has become ever more watchful when it comes to reporting capital gains. As a real estate investor, you should be avoiding any...

Young Canadians are realizing the benefits of an income property Clearly, there are a number of tax benefits that make an income property worthwhile (as long as you understand all the tax implications). And while the number crunching can take you in various directions, the bottom line paints a rewarding outcome. Which is why millennials are becoming landlords and benefiting from the very strong...

Taking advantage of an investment opportunity for student housing Industry estimates for unmet demand in student housing are huge. Montreal needs over 50,000 beds - Toronto needs over 30,000 beds - and Ottawa needs over 20,000 beds. From purely an investment point of view, the real estate numbers favour student-centered housing over other residential rental properties. More than that, demand for...

CRA is cracking down on tax cheating with rigid enforcement – especially for home “flippers” In the past few years, CRA has been uncovering many false claims for taxes related to real estate transactions. As such, the government is reviewing many thousands of real estate transactions every year, and taking their time to identify cheaters (they can take up to 4 years after a filing). CRA...

Keep these dos and don’ts tips in mind when buying a rental property The notion of collecting rental income and always having cash flow is really a best-case scenario. And while every investor wishes for this, every landlord must also face the reality of problem tenants, late rental payments, and capital expenses that are both unexpected and significant. The best approach is to be well informed,...