I created a post a few months ago about the lot my parents have gifted me, a beautiful half acre ocean view lot in Parksville, BC.
As my parents are still alive, I am told that they would have to pay capital gains on the lot if they sign it over to me before they die. Seems a pity to give away such a staggering amount to the undeserving govt, besides, I`d like to take possession, sell the lot and buy some postive cashflow properties now, before they die! Show them that I can do something smart with the money!
A friend of mine assures me that CRA is not connnected to Land Titles, and that I could probably get away with it, but I`d rather not do anything sneaky.
Can anyone give me the name of an accountant who might know a way around this?
Thanks,
Tim Allix.
604-905-0670
As my parents are still alive, I am told that they would have to pay capital gains on the lot if they sign it over to me before they die. Seems a pity to give away such a staggering amount to the undeserving govt, besides, I`d like to take possession, sell the lot and buy some postive cashflow properties now, before they die! Show them that I can do something smart with the money!
A friend of mine assures me that CRA is not connnected to Land Titles, and that I could probably get away with it, but I`d rather not do anything sneaky.
Can anyone give me the name of an accountant who might know a way around this?
Thanks,
Tim Allix.
604-905-0670