My question is: Canadian-specific

QUESTION: For foreign investors:
1.-Do they pay more or less capital gain and income taxes (from renting
their properties) than Canadian ones?
2.-Is the capital gain tax paid in the same Income Tax form?

QUESTION:

My wife and I have just purchased a condo at UBC. Our daughter, a student,
and another student (paying tenant) are living in this new condo.

We are interested in learning information pertaining to related tax
implications/deductables in owning the condo and additionally what are the
capital gains implications when selling this condo?

thanks -

QUESTION: Hi David,

I own two homes. I have one rental property worth 500,000 with a mortgage
of 250,000.

I want to sell my principle residence to buy a new one. I want to do an
equity take out on the rental to enhance the down payment on my new home.
Is the increased mortgage on the rental tax deductable?

thx

Hi David,

I've been a telephone client of yours in the past and really appreciate your
services. A couple of weeks ago I was listening to a financial talk-radio
show on satellite radio. A caller asked about moving to Canada to retire and
the hosts could not anwer the question. I called to tell them about your
website and they seemed quite pleased to learn about you!

My question is about holding IRA's. My wife and I are both Canadian citizens
with green cards. Been living in the USA since 2001. We both have ROTH IRA's
as well as Simple IRA's through our corporation. We think that we will
likely return to Canada in the future, after we obtain our US citizenships.

When we return to Canada would we be taxed on the internal earnings of our
IRA plans? And when we begin withdrawing from the plans, would Canada tax us
on the ROTH withdrawls?

I also wonder if Canada's tax laws would somehow favour a traditional IRA
over a ROTH becasue it is more like the RRSP.

Thanks David.

QUESTION:

Can I claim a deduction of my property tax in Canada in my US tax? I live
and own a house in Canada but work in the US.

QUESTION:

What's the procedure for a Canadian expat non-resident returning to Canada after an 8 years absence? Any tips on what should arrive to Canada first?

Many thanks.

QUESTION:

Can I deduct my 401k in US in my Canada tax? I live in Canada but I work
in US. Whenever I filed my Canada Tax I put back my 401K in my total
income. Is that right?

Sorry, just to clarify ...

My original property was always a rental and I want to buy another one to continue renting.

So does this constitute replacement of one business property by another property for active business use? Or does "business use" mean something specific and that doesn't include renting?

1. If your answer is, "... it doesn't include renting...", what would be the distinction between this situation and some company like Public Storage which rents out small spaces in a big facility for people to store things?

2. If I get another rental property closer to home (two properties) then would it be considered a business, and then could I roll over the first one to one that is closer to home?

Thanks

My question is: Canadian-specific

QUESTION: I would like to assist my son buy his first property, condo, or
single family home. How is the best way to do this without triggering
income tax if the money I propose to use for this would need to come out of
my RRSP? Can monies loaned to a son or daughter for the purpose of real
estate as a principal residence considered immune from tax?