Archive for the ‘real estate’ Category

Q&A: How do I record the equity value in my real estate in my bookkeeping?

Posted on: June 26th, 2013 by Real Estate Accountants No Comments

Q: How do I record the equity value in my real estate in my bookkeeping? I paid $200,000 10 years ago and now the market value is double that amount but there is nothing in my books to indicate this value. I’d like my bookkeeping to reflect the true market value of my properties. A: […]

2013 Federal Budget – A focus on tax changes

Posted on: March 26th, 2013 by Real Estate Accountants 4 Comments

We’ve now seen some of the provinces come through with their budgets and as a general rule there are certainly financial concerns, dealt with by tax increases (direct or indirect) and spending cuts. With the federal budget (on the first day of the real March Madness games) we are faced with much of the same […]

Q&A: How do I minimize taxes when I pull out RRSP money to purchase real estate?

Posted on: December 12th, 2012 by Real Estate Accountants No Comments

Do you guys have any suggestions on how to pull out some RRSP funds and minimize the tax impact?  Looking to pull out some funds to buy real estate in the US… Answer: On the question of RRSP withdrawals, it’s not so much that you’re going to reduce any taxes, but whether or not there […]

Should I register for GST/HST?

Posted on: November 14th, 2012 by Real Estate Accountants No Comments

The “should I register for GST/HST” question is a common one we get from our clients, which normally goes like this: I have received forms from CRA for GST/HST registration, I am not sure if I should register a GST/HST number for a parent corporation and a real estate holding company. There is no income […]

What Non-Residents Should Know about Selling Canadian Real Estate: Part 2

Posted on: October 16th, 2012 by Real Estate Accountants 5 Comments

In Part 1 of this article, we discussed non-residents who own Canadian real estate. In Part 2, we’re going to focus on when non-residents sell Canadian real estate. What are the additional tax issues when the non-resident disposes of a Canadian real estate rental property? Non-residents must apply for a clearance certificate from the Canadian […]

What Non-Residents Should Know About Holding Canadian Real Estate: Part 1

Posted on: September 19th, 2012 by Real Estate Accountants 2 Comments

In the last few months, we have received calls and emails from Saudi Arabia, Kenya and Australia, to name a few, from investors who hold Canadian real estate, and need help ensuring they stay onside with Canada Revenue Agency. This article, part 1, covers what non-residents (NR) need to know about holding Canadian real estate. […]

The importance of proper reporting: Raising Capital Interview

Posted on: June 11th, 2012 by Real Estate Accountants No Comments

Properly reporting to both your investors, and the CRA, is a key aspect of any real estate investment business. Making sure that you are properly handling the accounting and tax issues that arise when dealing in joint ventures is critical to your success. Recently, Russell Westcott, of the Real Estate Investment Network (REIN), sat down with […]

Insiders’ Guide to Real Estate Accounting

Posted on: November 14th, 2011 by Real Estate Accountants No Comments

Our clients expect us to provide the “insiders’” perspective on real estate accounting issues. We had the good fortune of presenting some of this insider knowledge to a group of investors in Ottawa at the monthly OREIO (Ottawa Real Estate Investors Organization) meeting. The presentation covers: Choosing a real estate accountant When, if ever should I incorporate? New […]

Real Estate Investing in the United States: Accounting and Tax issues

Posted on: November 14th, 2011 by Real Estate Accountants No Comments

We are often asked about the main issues that Canadians should consider when investing in the United States. We had the good fortune of presenting some of these issues to a group of investors in Ottawa at the monthly OREIO (Ottawa Real Estate Investors Organization) meeting. The presentation covers: Structure Liability Withholding taxes Income, capital gains and […]

Accounting & tax issues for real estate investors…the video highlights

Posted on: November 10th, 2011 by Real Estate Accountants No Comments

Andrei Angelkovski, of www.beachinvesting.com, interviewed George on accounting and tax issues for real estate investors for his blog. The interview covered: 1. Should we incorporate or not? 2. What are the top 3 things people think they can expense but cannot? 3. What are 3 tips you would offer real estate investors about accounting and tax? […]