If you’ve inherited property in Ontario, there are many potential implications to consider for your taxes and your finances, especially if it was a surprise inheritance and you haven’t had time to properly plan for it. We’ll walk you through some of the steps you need to take. Step 1 – Get a professional …
We all care for our kids, and many parents intend their children to inherit their homes, so that the wealth stays in the family. This is a natural desire, and very commendable. It seems so natural, in fact, that most people can’t even imagine the tax and inheritance traps that lay in wait for this …
Common Tax Mistakes to Avoid When You Want the Kids to Inherit the House Read More »
Writing a will is a very personal subject and often involves a lot of considerations about property and heirs. The process can be made even more difficult because of legal issues, taxes, and various hidden aspects of how the law handles property inheritance in Ontario. This leaves several factors that need to be considered when …
The first question everybody asks is, do you pay tax on inherited property? The answer is, not exactly. Canada Revenue Agency will consider any money the deceased had previously owned as part of their estate, and deduct a tax from the overall estate value. This usually means that there is no additional taxation on any …
Canada Inheritance Tax and What it Means for Your Inherited Assets Read More »
The GTA and Toronto real estate market is continuing its upward trend, according the Toronto Real Estate Board’s Market Watch for May 2016. Both total number of home sales and prices are up across the board. The big news – 15% overall increase in home prices The MLS® Home Price Index Composite Benchmark was …
Upswing for Home Prices & Sales in May 2016: Toronto Real Estate Board Read More »
A community thrives on its occupants coexisting, but even when neighbours get along with one another there will always be disagreements. When it comes to fences and your rights and responsibilities as a property owner there can be some confusion and it is important to know where you stand regarding the construction of new fences …
Fence Damage, Construction and Maintenance: Who Pays? Read More »
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