Is a vacation home a good investment?
A cottage or other vacation property can provide a great way to unwind and spend time with family. But...
second property
When are costs for a U.S. property tax-deductible in Canada?
Canadians pay tax on their worldwide income. But do the costs associated with U.S. properties get the same tax...
How to carry back a capital loss for a tax refund
Let’s look at the rules and restrictions around carrying back a capital loss, as well as three things to...
The tax implications for Canadians selling foreign real estate
How are Canadians taxed on foreign property? Find out if you should report the sale on your tax return...
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Family legacy: How to pass along the family cottage—and 3 things to avoid
Discover key strategies from estate planning lawyer Peter Lillico on preserving your family’s cherished cottage for generations to come.
When your child moves into your rental property: Capital gains and how to claim principal residence exemption
When an adult child moves into their parents’ rental property, the family should be clear on a few things,...
What expenses can you deduct when renovating a rental property?
The purpose of the renovations, as well as the occupancy of the building, can influence whether the expenses are...
When does the “plus 1” rule apply to a principal residence?
There are tax implications to inheriting a second property. But in certain circumstances, you can have two principal residences...
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How to know if a secondary suite or basement apartment is legal—and a worthwhile investment
The potential to earn rental income sounds great, but unauthorized second units come with financial and other risks.