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> My question is: Canadian-specific > > QUESTION: I have several investment properties in Whistler and wish to minimise tax when i sell them. I paid no regard to this issue when i purchased the properties. Can you recommend any good books or resources where i can research this topic please? >
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With regard to Capital Gains, the following URL takes you
to my 1991 Ultimate Income Tax Book. I should update it but other than
the fact that the taxable capital gains portion has gone back to 50% and there
is no longer a $100,000 exemption, the rest of the chapter is up to date.
With regard to rental profits (or losses) my 12 year old
rental chapter needs very little additions. The Expectation of profit
rules have changed and almost gone out the window if there is no personal use
of the properties.
The ownership of several properties indicates to me
that you should likely sit down with someone like myself and discuss it.
If you do, bring three years of tax returns with you.
david ingram -
www.centa.com
108-100 Park Royal South West Vancouver, BC, CANADA, V7T 1A2 (604) 913-9133 - Fax (604) 913-9123 cell (604) 657-8451 (10 AM to 10 PM 7 days) US / CANADA Income Tax and Working Visa Matters |
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