By Don R. Campbell
From Canada's best-selling genuine esate writer, Don R. Campbell, and his workforce.
From condo houses to enterprise workplaces, a growing number of Canadians deciding to buy genuine property are unwittingly surroundings themselves up for difficulties. genuine property investments and their corresponding tax guidelines are complicated--without figuring out the tax ideas, traders will see how quick doubtless practicable investments can turn into monetary mess ups. 81 monetary and Tax assistance for the Canadian actual property Investor deals useful recommendation on effectively navigating the tax implications of estate possession, together with tips about a) deductions from source of revenue; b) getting ready for an audit; and c) leveraging expert support. full of insights and Canadian-specific suggestions, there isn't any different publication love it at the market.
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Additional resources for 81 Financial and Tax Tips for the Canadian Real Estate Investor. Expert Money-Saving Advice on Accounting and Tax Planning
This system sorts your receipts and lets you avoid reconciling bank and credit card statements, which takes times — and costs money! Watch for duplicate receipts! They add to confusion as your bookkeeper or accountant can easily forget and enter them twice. This means your tax return will be prepared based on incorrect documentation. Moreover, there is no benefit to submitting duplicate receipts, since you will have to pay for someone to sort the receipts and identify duplicates. Avoid the hassles by shredding duplicate receipts!
Com. ca or call toll free 1-800-893-5777. Care has been taken to trace ownership of copyright material contained in this book The publisher will gladly receive any information that will enable them to rectify any reference or credit line in subsequent editions. REIN, Cash Flow Zone, ACRE System, The Sophisticated Investor Binder is a registered trademark of South Pacific Education Corporation. Library and Archives Canada Cataloguing in Publication Campbell, Don R. 81 financial and tax tips for the Canadian real estate investor : expert money-saving advice on accounting and tax planning / Don R.
Unusual terminology or calculations related to the distribution of profits may attract the Canada Revenue Agency’s attention. • When corporations are involved, definitions regarding property ownership are important. Investors may provide a loan, invest into special or common shares in a company, have the company act as a “bare trustee” or have the company own a portion of the property on behalf of its shareholders while another portion of the property is owned by an independent individual or entity.
81 Financial and Tax Tips for the Canadian Real Estate Investor. Expert Money-Saving Advice on Accounting and Tax Planning by Don R. Campbell