Canada Tax

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Related Canada Tax Questions
We are looking to purchase in cash a condominium for our
We are looking to purchase in cash a condominium for our daughter who will be attending university. Should we put the condominium in her name. … read more
AndrewD914
AndrewD914
CPA, CA, CFA
Bachelor's Degree
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It's about capital gains tax. I don't know what you mean. It
Yes we are family and I rented part of the house and the other rented the basement and the house is being sold… read more
AndrewD914
AndrewD914
CPA, CA, CFA
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Is this for Canadian? Kitchener ontario. 50year old, have
50year old, have two adult children they are still in school … read more
AndrewD914
AndrewD914
CPA, CA, CFA
Bachelor's Degree
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Wondering if there is any capital sale tax exemption such as
Hi Andrew! wondering if there is any capital sale tax exemption such as farming if you are still a farm registrant and have a secondary house in town that you wish to sell in the future.… read more
AndrewD914
AndrewD914
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I posted this as a new question following the previous
Hi! Andrew, I posted this as a new question following the previous question. I just want to make sure I am clear on the situation. Here are the questions for rental property: 1) my parents purchased t… read more
AndrewD914
AndrewD914
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Bachelor's Degree
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Regarding capital gains. My rental house. I lived there till
I lived there till 2012. But my father was living there on title till he died in 2016 … read more
AndrewD914
AndrewD914
CPA, CA, CFA
Bachelor's Degree
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I have a question regarding capital gains. My husband and I
I have a question regarding capital gains. My husband and I purchased vacant land adjacent to our principal residence in 2002 and have sold it in 2020. So we are both listed as purchasers. We have no … read more
AndrewD914
AndrewD914
CPA, CA, CFA
Bachelor's Degree
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My wife and I co-own a rental house we bought in 1998. I'm
My wife and I co-own a rental house we bought in 1998. I'm familiar with the usual deductions for a rental house, but last year we spent about $30K in improvements that would be considered capitol imp… read more
AndrewD914
AndrewD914
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I bought and sold a condominium. Can I claim my legal costs
Second opinion] I bought and sold a condominium. Can I claim my legal costs and realestate fees as expenses against my capital gain charges? thanks… read more
AndrewD914
AndrewD914
CPA, CA, CFA
Bachelor's Degree
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I just sold a secondary resident cottage and have to pay
i just sold a secondary resident cottage and have to pay capital gains on it. DOes the Capital Gains deduction cover any of this … read more
AndrewD914
AndrewD914
CPA, CA, CFA
Bachelor's Degree
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My husband is 40 and has no retirement savings. He has no
My husband is 40 and has no retirement savings. He has no savings really at all. We have no debt except for cars and mortgage. I have about 100K in RRSP and RRSP (Canadian). What is the best step to t… read more
AndrewD914
AndrewD914
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Bachelor's Degree
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For how many years do you have to run your property as a
for how many years do you have to run your property as a farm to avoid capital gains (if your farm generates sufficient income)? … read more
AndrewD914
AndrewD914
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I am a Canadian and have sold my Phoenix house. At the time
I am a Canadian and have sold my Phoenix house. At the time of sale, we had to fill out 8288 A or B withholding tax because the sale was over 300,000 dollars. 8288A was used as we did not understand t… read more
Barbara
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Our mother died in 2013. she left my brother, sister and I
Our mother died in 2013. she left my brother, sister and I her house. the stipulation was we were not allowed to sell it until her husband either died or moved to a senior's home. … read more
Lane
Lane
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Doctoral Degree
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I am helping my 85 yr old mother sell her place in Arizona.
I am helping my 85 yr old mother sell her place in Arizona. She is a Canadian. She purchased the Arizona property 20 yrs ago and has spent about 5 1/2 months each winter there. … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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Transferred a real estate property to our daughter who lived
Transferred a real estate property to our daughter who lived in the property since it was first built. The FMV when transferred in 2017 was less than purchase price and additions to builder basics. No… read more
Dr. Fiona Chen
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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
ShawnA
ShawnA
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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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