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When I sell my cabin that I've owned for 26 years in .C.,
When I sell my cabin that I've owned for 26 years in B.C., how do I know how much tax I owe? What expenses can I claim to lower the amount taxable? … read more
bkb1956
bkb1956
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How is Capitol gains figured. A cabin and some land with it,
How is Capitol gains figured JA: What are the assets or property for this capital gain? Customer: A cabin and some land with it, about 1+ acres JA: Anything else you want the Accountant to know before… read more
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Legal Ease
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I sold my US property in 2013 and I incurred a loss on the
I sold my US property in 2013 and I incurred a loss on the sale of the house in 2013. The money sat in a US account until 2015. In 2015 I converted the money which was $320,000.00 US to CDN funds to p… read more
annelew12554
annelew12554
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Our property originally was a single family home with a
Our property originally was a single family home with a rental cottage at the back on the lane purchased by my wife & I in 2003. In 2008 we replaced the cottage with a laneway house, turned the proper… read more
adamousacom
adamousacom
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In July 2012 my ex husband, my current husband and myself
In July 2012 my ex husband, my current husband and myself bought a condominium for $216,000 each owning one third. My disabled son and my ex husband have lived there the whole time. We sold the condo … read more
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My mother put in an offer on a house 12 years ago but didn't
My mother put in an offer on a house 12 years ago but didn't qualify for a mortgage so the offer was transferred into my husband's name and he got the mortgage for her. The title remained in his name.… read more
Legal Ease
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Applies to Canada. Questions relate to a property changing
Applies to Canada. Questions relate to a property changing from personal use to rental use and proper reporting of a disposition in 2015 income tax filing. Scenario: Single family home (Property A) pu… read more
TaxRobin
TaxRobin
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Vocational, Technical or Trade School
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My mother passed away July 2015 before she passed away she
My mother passed away July 2015 before she passed away she put me as joint owner of her home which we have just sold. I was put on as joint owner in 2008. At the time I was put on the house deed as jo… read more
Legal Ease
Legal Ease
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Purchased property in 1978. Apartment attached to the main
Purchased property in 1978 for 59K. Apartment attached to the main house we claimed 25% expenses. We built a new double garage plus loft and a downstairs bathroom. Approx. cot 40K. Also purchased the … read more
Legal Ease
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MY HUSBAND INHERITED FARM LAND IN NORTHERN IRELAND AND HAS
MY HUSBAND INHERITED FARM LAND IN NORTHERN IRELAND AND HAS HELD IT FOR 15 YEARS WITH PLANS TO BUILD ON IT SOMEDAY. WE HAVE NOW DECIDED THAT IT IS UNAFFORDABLE FOR US AND WE WILL SELL IT AND BRING THE … read more
Legal Ease
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My husband & I own shares in our business 50/50. Upon death
My husband & I own shares in our business 50/50. Upon death of one of us, we have willed the business to the remaining spouse. Upon death of the remaining spouse, we have willed the business (incorpor… read more
Law.Hut
Law.Hut
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HELLO, I AM FROM QUEBEC. MY HUSBANDS GRANDMOTHER PASSED
HELLO, I AM FROM QUEBEC. MY HUSBAND'S GRANDMOTHER PASSED AWAY 4 MONTHS AGO AND LEFT A DUPLEX TO HER SON, IT HAS NO EXISTING MORTGAGE ON IT, NOW HE WISHES TO RENOUNCE THE SUCCESSION COMPLETELY AND GIVE… read more
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We have sold our cottage and just need some advice on capital
We have sold our cottage and just need some advice on capital gains. Please correct me if I am wrong but this is how I understand the calculation is made. Purchase price plus improvements gives you ad… read more
Arthur Rubin
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I and my wife own a vacation home in ontario. We are Americans.
I and my wife own a vacation home in ontario. We are Americans. I want to avoid taxes on our property upon our death. Can I add our two daughters as owners on our property title and will we have to pa… read more
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We currently own two homes. One we have lived in for almost
We currently own two homes. One we have lived in for almost 17 years and it has a mortgage. Earlier this year, we purchased another home with cash and are renovating it. We are considering moving into… read more
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BackgroundMy partner and I bought and both lived in this
Background My partner and I bought and both lived in this house from Sept 2008 to March of 2012. She Moved out in March 2012 bought a condo and changed her principal residence. I stayed on in the hous… read more
Legal Ease
Legal Ease
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My son wants to by a condo but cant qualify for the mortgage
My son wants to by a condo but cant qualify for the mortgage without us co-signing. Somewhere I had been told that if he sells and pays us back we will be charged capital gains on that money. If we we… read more
Legal Ease
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Last summer my family of origin (Italians residing there)
Last summer my family of origin (Italians residing there) sold a 2-bedroom apartment in Italy. This apt was purchased years ago by my parents, who each owned 50% of it. It served as the family home fo… read more
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