Since the property was your principal residence for a long period of time and depending on some other factors, and if certain elections were filed, a good portion of your gain, or all, could be tax free. You should obtain qualified tax advice. Todd Stokowski, CA

Good show. Best of luck. Todd

Hi, Can you let us know what you found out? Todd

Call Brendan at Capital Paralegal and he will let you know the Law and your options under the Law. 780-463-5155. He's a good fellow. Todd

$30,000.00 gross revenue (rents) - commercial only. Todd Stokowski, CA

Hi, For clarification reasons, is this way of phrasing your question, asking the same thing? "How does the additional money paid per month by the Tenant above the regular monthly rental income get treated for income tax purposes - as income or as a deposit?" Todd

Great questions and responses! The value of the answers you received is worth many $$ of legal advice, replaced many years of experience and quite a few transactions. Just completing a few of the above, I agree with the comments. Not to be redundant, but, "if you don`t have a reserve chute...

Good story. Sounds like it was positive for all parties. That`s wonderful. Good to hear. Celebrate.... and then off to the next one! Todd

I believe your only possible action is against the person on the lease, regardless of who was paying the rent, etc. It`s my understanding that the payment of rent was an agreement between the tenant and Chimo and Chimo would not be party to the lease agreement if they are not named on it. Keep...

Hi, My apologies, it must have been the way that I was reading it. That`s always the risk with the written word, it may not come across as intended. Maybe it was the way I was feeling when I read the post. My comments were given with intentions of assisting, not trying to be discouraging...

Hi, Just a comment. I read your post a couple of times and I am not clear what you are looking for. To help you achieve your goal, I suggest being a bit more clear. Slow down and write the presentation as if you are making a presentation to a perspective investor...... because that`s what...

Based on the facts provided by Rob (in another thread) and using Thomas`s example above, this is how I see the treatment of the GST: On purchase: No GST paid to Vendor (since the Purchaser is a GST Registrant purchasing commercial property) Purchaser reports the GST payable of $50,000.00 on its...

Hi again Rob, I posted the treatment of the GST on the purchase on another thread. To answer your question about the GST on the commercial rents - yes, you are required to collect GST on the base rent and all the triple net charges and remit same to CRA on your GST returns. You can also...

I believe the striping is caused by the cold migrating from the outside to the inside. If you check the width of the exterior walls, my guess is that they are only as 3-4 inches thick, meaning that the framing was done with 2*4s not 2*6s resulting in poor insulation and the metal studs act as a...

QUOTE (CraigCulley @ Nov 26 2009, 10:05 AM) Todd, Follow this link for the answer to your question. http://ezinearticles.com/?What-Does-the-Ye...&id=1497743 Hmm, and people are upset about getting that? Thanks TS