Messages

1

Questions and Answers / Re: Buy Properties in other province

« on: July 22, 2009, 01:24:32 AM »

What tax does the investor pay upon the sale of an investment real estate property in Canada?

In certain circumstances, the capital gain when selling the property can be exempted using the principal residence exemption.  If you sell the real estate property for more than it cost (and it does not qualify for the principal residence exemption), this will be taxed as a capital gain. 

Upon the sale of an investment real estate property, any net increase in the value of a property is taxed in the form of capital gains which is the preferred form of income from a tax perspective.  In Canada, capital gains have preferential tax treatment as compared to interest and dividends because only 1/2 of the capital gain is included in taxable income.  An Ontario investor in the top marginal tax bracket would pay 23.21% tax on capital gains, versus 46.41% on employment, business, or interest income, or 31.34% on dividend income.

For additional information regarding the taxation of rental income please refer to the Canada Revenue Agency Guide for Rental Income.

 

2

Property Information / Re: CLEARVIEW

« on: June 25, 2009, 02:13:38 PM »

$102k....
Must be someone wanting to build their dream house because the market has flatlined in that area for anything over $500k and the house that is on the property has been unoccupied for years and is good for a teardown only.


That is a whack amount of money when you can buy 2+ acres for less than that right off the MLS.

3

Property Information / Re: CLEARVIEW

« on: June 12, 2009, 12:05:29 PM »

Talked to an old-time real estate agent in the area and he said that development of those lands is a "who knows when" scenario.  Apparently the issue is that the soil conditions will not allow for any more development (i.e. Murray Cres) that requires septic.  The other subdivision lots have no roads and no services, nor can I find any mention of plans in the Simcoe County website for them to be put in place.  Stayner is pretty town but is not growing like Collingwood, Wasaga, Barrie or Innisfil and since the amalgamation into Clearview they have clamped down on random development.