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If my sister bought me out of my moms cottage after my mom
if my sister bought me out of my moms cottage after my mom passed away, am I know obligated to pay half the tax on the cottage … read more
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I just have a quick question to ask. I have agreed with my
Hi. I just have a quick question to ask. I have agreed with my girlfriend that she will transfer me a bunch of stocks and I will transfer her money and the amount has been agreed. Is it possible to do… read more
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I have a question regarding a child buying a second property
Second Opinion] I have a question regarding a child buying a second property from a parent and the Capital gains that will be taxed. … read more
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Our cottage is in my husband's name only, if he dies will I
Our cottage is in my husband's name only, if he dies will I have to pay capital gains. would it be better if it was in both our names. We have a primary residence in both our names … read more
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If my sister transfers her share of real property to me,
If my sister transfers her share of real property to me, it's my understanding that my sister must pay taxes for revenue equivalent to the fair market value of her share of the property.In the situati… read more
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When a property is gifted to an individual and that
When a property is gifted to an individual and that individual decides to sell the property do you pay capital gains? If yes, how much of the sale of the property are taxed? … read more
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My uncle would like to sell me his 1/2 of a family cottage.
My uncle would like to sell me his 1/2 of a family cottage … read more
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Parents have property& cottage in Ontario Canada. Parents,
Parents have property& cottage in Ontario Canada. Parents, children and grandchildren are all US citizens. We need estate planning and tax advice. Is a Canadian will needed to leave property to the ch… read more
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My wife and I purchased a cottage in Ontario, Canada in 2002
My wife and I purchased a cottage in Ontario, Canada in 2002 from her parents. Capital gain's were paid upon the transfer of title at that time. I had my children's names added to the title with my wi… read more
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Hello, My parents bought a cottage property in Quebec from
Hello, My parents bought a cottage property in Quebec from my grandparents approx. 40 years ago for $20k. Shortly thereafter, they gave it to my brother and I (when we just young children). Fast forwa… read more
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Where a cottage is owned by one spouse, and the adjusted
Where a cottage is owned by one spouse, and the adjusted cost base for calculating capital gains is $200,000, if the cottage is changed to Joint tenancy with right of survivorship, who claims the capi… read more
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My father died in 2006 and my sister is the executer. She has
My father died in 2006 and my sister is the executer. She has still not settled the entire estate - waiting to see if capital gains needs to be paid on the cottage and shares transferred to her. How m… read more
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We are a retired couple who are rapidly becoming asset rich/cash
We are a retired couple who are rapidly becoming asset rich/cash flow poor.My pension income forces me into the 42% category. Is it posible in Ontario to put a maximum motgage on our summer home,then … read more
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In 2003 my wife and I decided to immigrate to Canada from the
In 2003 my wife and I decided to immigrate to Canada from the UK as soon as we could obtain a permanent residence visa for Canada and sell our business and home in the UK. We bought a property in West… read more
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My mother in law in joint owner in our home and is principal
My mother in law in joint owner in our home and is principal owner of a cottage. We are trying to minimize capital gains issue down the road when she dies. We assume she will be able to claim the cott… read more
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Lived comon law in Ontario for 17 years. Both worked, she earned
Lived comon law in Ontario for 17 years. Both worked, she earned about half of what I did. she has no pension per se. After 34 years I have a govt one. Jointly own a duplex in Ottawa worth approx 200k… read more
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Three sisters own a family home/property. Its currently rented.
Three sisters own a family home/property. It's currently rented. They are considering selling, but want to avoid capital gains tax. We have been told if one of the sisters moves in for 6 mos and calls… read more
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Can a parent in Ontario gift her portion of a non-residential
Can a parent in Ontario gift her portion of a non-residential property to her children (inter-related party transaction)for no consideration or onloy at fair market value?… read more
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