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I bought a 2nd home (cottage) in 1972 while owning a city
Hello, I bought a 2nd home (cottage) in 1972 while owning a city home (principle residence). I sold my city home in 1993 and moved to the cottage fulltime which then became my principle residence at t… 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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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 Father wants to give me his home in Canada. I am a U.S.
My Father wants to give me his home in Canada. I am a U.S. Citizen. What tax consequence would there be for me and him in doing so. … read more
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We live in Ontario Canada. My wife was sole-on-title for both
We live in Ontario Canada. My wife was sole-on-title for both of our properties, a cottage and our home. - We sold the cottage in July, bought for 105k in 2000 and sold for 312k in 2012 We are now int… read more
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if I sale my house and transfer the money which I got ,to another
if I sale my house and transfer the money which I got ,to another country do I need to pay any tax(like exit tax) to canadian government? do I need to report it to the government? is there any procedu… read more
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If I lived at my cottage for six months and had my mail delivered
If I lived at my cottage for six months and had my mail delivered to the cottage would that then be considered my principal residence if I sold it after the six months in order to save capital gains t… read more
Law.Hut
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My husband has left his cottage to his three sons, from his
My husband has left his cottage to his four sons, from his first marriage, in his will. Would there be any advantage to putting all 4 of their names on the deed, to insure shared responsibility and as… read more
Debra
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Canadian tax question. Took brother off deed to family cottage
Canadian tax question. Took brother off deed to family cottage in Ontario prior to his divorce 6 yers ago. Now that all is settled I want to put him back on. Is there any problem or expense to do that… read more
Debra
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My 79 year old mother owns a cottage which is considered her
My 79 year old mother owns a cottage which is considered her permanent residence. In the event of her death, the cottage will be left to the three daughters. What inheritance tax, if any, would be app… read more
Debra
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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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I live in Ontario. My wife wants to transfer title of a residential
I live in Ontario. My wife wants to transfer title of a residential property to me. Is it taxable?… 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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Hi - I need clarification, please. This is with canadian and
Hi - I need clarification, please. This is with canadian and u.s. citizens. When my grandfather died, my grandmother (both Canadian citizens) did not want to co-own the house with my mother so she gif… read more
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I would to inquire about what restrictions might apply on a
I would to inquire about what restrictions might apply on a property transferred from a son to a mother as a gift "love and affection “in the Province of Ontario, Canada. I would to inquire about what… read more
Debra
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I would to inquire about what restrictions might apply on a
I would to inquire about what restrictions might apply on a property transferred from a son to a mother as a gift "love and affection “in the Province of Ontario, Canada. I would to inquire about what… read more
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in our will how do we set up a family trust for the use of
in our will how do we set up a family trust for the use of our cottage in northern ontario on land which we own. WE have five children… read more
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Hello, My grandmother is the sole owner of a cottage on
Hello, My grandmother is the sole owner of a cottage on Lake Huron (Ontario) in Canada that has been in our family since 1916. There is no mortgage on the cottage and it is valued at roughly 700-900k … read more
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