How to go about securing the best return for your investment in Canada.
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FIFA World Cup plan fallout: AFC reacts as Infantino scraps investment push - Al Jazeera Aug 1st
FIFA World Cup plan fallout: AFC reacts as Infantino scraps investment push Al JazeeraWomen’s football continues to be used as a pawn in Gianni Infantino’s Fifa tenure The GuardianFifa World Cup plans: Uefa has 'lost confidence' in current leadership BBCFIFA scra.... More »
Renting out your home can bring cash—and complications May 20th
If you search “Airbnb how to get started” you’ll reach their splash page with a big number. As of May in Toronto, Airbnb says you can make more than $4,000 per month during the FIFA World Cup. It’s a powerful lure for someone who needs help with their rent or mortgage, and has a spare room t.... More »
Why are we so afraid of financial mistakes? + MORE Jul 17th
Growing up, I heard one saying repeatedly: the early bird gets the worm. Like so many childhood proverbs, I accepted it without much thought—one of those quiet truths adults repeat often enough that children stop questioning them.
For most of my life I assumed it was a lesson about hard w.... More »
Poilievre says Canada will never be ’28th state’ of EU at Ontario rally - Global News Sep 20th
Poilievre says Canada will never be ’28th state’ of EU at Ontario rally Global NewsHead of European Investment Bank eyes Canada opportunities as Carney pushes EU ties CBCOpinion: Carney’s beautiful Euro vision must meet harsh reality The Globe and MailNP View: .... More »
Helping your kids buy their first home: Smart strategies for today’s market + MORE Mar 5th
With housing prices close to record highs, many young adults worry that homeownership is no longer a realistic goal. But with smart planning, education, and creative strategies, buying that first home is still possible. As parents (or grandparents), we can empower our kids by teaching them strong fi.... More »
A client of mine told me (Ontario) that his girlfriend moved in and is paying $1,000 per month towards household costs. They won’t be common-law for 3 years in Ontario. Would this count as tax free?—Hans
There are a few considerations here for your client, Hans. I will break them down.
Rental income
When you earn rental income, you report it on your personal tax return on Form T776 Statement of Real Estate Rentals. You can claim rental expenses to reduce your taxable rental income. Common expenses include:
Advertising
Insurance
Mortgage interest
Legal and accounting fees
Management fees
Condo fees
Repairs and maintenance
Property taxes
Utilities
This list is not exhaustive, and repairs and maintenance can be complicated because some expenses that are more lasting in nature—like a renovation—may be capital expenses that must be depreciated over time.
Rental losses
If you have more expenses than income, you can have a rental loss…
Trump raises US tariffs on South Korea imports to 25% – BBC
– news.google.ca
Trump raises US tariffs on South Korea imports to 25% BBCTrump says he will impose new tariffs on South Korea as he criticises delays in trade deal The GuardianAsian shares track Wall Street gains as gold edges lower halifax.citynews.caPremarket: World stocks at record high as earnings hopes offset trade angst The Globe and MailTrump Eyes Korea for Higher Tariffs in Latest Empty Threat Bloomberg
