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  1. N

    HST Accounting for Mixed Comm/Res Property

    Commercial properties have to collect HST/GST from their tenants, deduct all HST/GST paid and remit the difference to CRA. Residential properties CANNOT be registered for HST hence do not collect HST/GST from their tenants and do not get to deduct HST/GST they pay. Mixed properties-...
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    disposing of assets

    Each building has to have its own class
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    RE Investor Expenses

    All expenses that are reasonable and necessary to earn income but are not personal in nature
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    RE Investor Expenses

    Hello Here is the defination- Anything that is reasonable and necessary to earn income but not personal in nature. Work from there.
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    CPP Calculator Website?

    gross salary less 3500 annual exemption *.0495 max approx $2200 employee portion
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    Rental Property

    Russ is right- paper works best- once you get used to -use an excel spreadsheet
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    Is there a Way around Paying Capital Gains Tax?

    What is wrong with paying capital gains tax? You only have to pay tax on one half of the income? Isn`t that better then paying on the full 100% like employment income? or worst still, not making money? These are the problems I like as a real estate investor and happy to pay the taxes
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    Apartment bldgs - BC vs. Alberta

    Thomas is right-look at the economic fundamentals and one more thing -no property purchase tax in Alberta
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    Paying the down payment with an incorporated company

    Sorry to put a damper to the shareholders loan bit- there are rules and time frames that the shareholders loan has to be repaid by. You cannot borrow money from your corporation indefinately. In the second year it becomes a deemed dividend. There are better structures to use if you are a...
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    Bank of Canada Cuts Interest Rate to Lowest Level Practically Possible

    1/4 point is great-but if that makes a difference to purchasing a property! Are these rates here to stay is the more relevant issue
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    Breach of contract: What are the implications?

    Have the lawyer try to negotiate a settlement too! They are able to do it because there will be no winners in a lawsuit.
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    New to real estate: where does your real estate knowledge come from?

    That is great education-but it does not make up for experience-they only way to get it is to write offers, close on a deal, become an owner and learn the ups and down! Dont become a professional student- be an investor
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    claiming legal fees when sale does not go through

    It is a funny one- most people claim it and are ok as long as they do not get audited. If they do- then they become a capital loss! go figure!
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    Income Splitting

    Most clients split 50-50. But this allocation is done based on ownership- not time or effort. Once you put that down- you cannot change ownership without realizing a sale
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    Accountant Real Estate Lawyer in Red Deer area

    Sorry- just go to the website at www.realaccountant.com and look at the articles there
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    Accountant Real Estate Lawyer in Red Deer area

    Check this post for an idea on how to choose and work with an accountant http://www.realaccountant.com/qmmurji/clie...p;n=Real%20Tips
  17. N

    Capital Cost Allowance

    If your capital gain is $50K - your taxable portion in the corporation is $25K. You pay corp tax at the highest rate then you get a RDTOH based on the dividends you declare adn then it varies by province- so it is more complicated then saying -what is the %. Then you have to worry about...
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    Capital Cost Allowance

    Most times it is not a good idea to file adjustments. File like you did it correctly but did not claim cca in the past
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    Getting Started

    Take a good look at the quickstart program- take a look at 4-plexes in Calgary- think hard but move forward!
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    Capitol Depreciation

    Typically we work on individual basis looking at marginal tax rates- so there isnt a blanket answer to your question
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