tax income and investment outside province

[cgilbert]

Hi,



I live in BC and plan investing in Alberta. Does the income that come from property outside BC sum up to my personal revenu for tax income in BC or does the income portion from Alberta will be taxed as if i was in Alberta ?



thanks

 

[richardkp]

It is all taxed as income in the province you reside in - BC

 

[George]

Good evening,



Richard is correct if you personally own the property in Alberta. If you own the property in a corporation there are other alternatives.

 

[Thomas Beyer]

[quote user=cgilbert] I live in BC and plan investing in Alberta. Does the income that come from property outside BC


There is usually no income to tax until you sell as you depreciate the asset by up to 4% a year and that usually offsets any income from renting minus expenses such as operating expenses and especially interest on a mortgage..



Therefore, it matters where you reside WHEN YOU SELL .. not where you live today !