Moving real estate to corporate ownership: 7 tips you need to know

Posted on: July 27th, 2016 by Real Estate Accountants 4 Comments
Real estate investors discuss with real estate accountants whether properties should be moved to a corporation

The number one question for real estate accountants after “should I incorporate” is “can I move my properties to my company from my personal name?” Moving your personally owned rentals is not a “moving job” that should be undertaken without a great deal of thinking ahead and planning. You must ensure your real estate accountant, lawyer, and […]

Agreements-for-sale and rent-to-owns: Navigating the quagmire of tax implications

Posted on: June 22nd, 2016 by Real Estate Accountants No Comments
Tax implications of RTOs and agreements for sale

We see a growing number of investors who are acquiring real estate beyond the traditional “buy-and-hold” strategy or, even more popular, using a mix of techniques. Two examples of such techniques include using “agreements for sale” (AFS) and “rent-to-own” (RTO) agreements. But, one critical note for these strategies is that the tax implications associated with […]

Canadian real estate market: 4 trends affecting the landscape

Posted on: May 25th, 2016 by Real Estate Accountants No Comments
real estate market trends

Talking about the “Canadian Market” is difficult in a country with so many varied and specific sub-markets. What is happening in Vancouver and Toronto vs. Calgary and Windsor or Halifax? These are all very different conversations. But some overall economic drivers affect each of these markets in different and interesting ways. BDO Canada’s Real Estate […]

Joint ventures: 5 tips for real estate investors to stay onside with the tax man

Posted on: April 26th, 2016 by Real Estate Accountants No Comments
joint ventures, real estate accounting and staying onside with CRA

When dealing with joint ventures, as a real estate investor you understand that talking about what really matters, and then having a clear written record, is a key part of the process. Your real estate accountant will also tell you that the words you use to describe your joint venture, and the joint venture agreements […]

10 key lessons for real estate investors on capital vs income when arguing with the CRA: From intention to integrity

Posted on: March 26th, 2016 by Real Estate Accountants No Comments
CRA court case - a real estate accountant provides perspective

Selling a property is an opportunity for you as a real estate investor, but can also be an opportunity for the Canada Revenue Agency (CRA). A recent court case revolving around capital vs. income provides an interesting case study for real estate investors with 10 key lessons, including those on intention, integrity, and reliable records […]

6 tips for real estate investors to make tax season pain-free

Posted on: February 28th, 2016 by Real Estate Accountants No Comments
Personal taxes for real estate investors: Tips from a real estate accountant

As a real estate investor, the time has come to cast your thoughts back to the past year, and work with your real estate accountant to get your personal taxes completed on time. But, are you sure that you are getting all possible deductions that are reasonable? Do you understand the implications for capital cost allowance […]

Q&A: Is HST applicable on a rental property if commercially zoned but all units are residential rentals?

Posted on: January 28th, 2016 by Real Estate Accountants No Comments
Cash

Question: We are investigating the purchase of a rental property in an Ontario town, and have a quick question about the HST. The property is presently set up as four residential rental units, but it is zoned commercial. From conversations with the city, apparently the property is to include three residential and one commercial unit. If […]

4 tips to reduce taxes and stress for the New Year

Posted on: January 12th, 2016 by Real Estate Accountants No Comments
New year - less stress, less tax

Now that 2016 is off to a great start, the time is perfect to take a few moments and review some of the basics of your foundation as a real estate investor and business owner. Getting back to basics can save you time, money, taxes, and stress, and a good real estate accountant can help. Here are […]

Paying cash – Underground economy crackdown

Posted on: December 7th, 2015 by Real Estate Accountants No Comments
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Cash payments “under the table”? Requests from tenants or tradespeople to accept cash while running your real estate investing business? The underground economy is thriving in Canada, and the Canada Revenue Agency is focusing on what Statistics Canada estimates is 1.3% of Canadian GDP. And, who do you think that they are targeting? Likely industries, […]

CCA – Creating a loss on a rental property? Not so fast

Posted on: November 26th, 2015 by Real Estate Accountants No Comments
Rental property

To claim capital cost allowance (CCA) or not claim to CCA is one of the perennial questions we receive as real estate accountants. Aside from the debate about whether or not to claim CCA, some specific rules exist about when you can and can’t claim it. (For details on CCA itself, see Claiming capital cost allowance […]