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Wow. That is a lot of information. I will have to listen again. I’m not a business owner but just someone who wonders whether to retire in Canada or in another country in which I also have citizenship. I had idea there were tax implications to the decision.
@@MarkYeung1 more like hell. First they laft me a fractured L5 for 14 14yrs. Now they hit me so hard with radiation I have cancer and they didn't tell me about that either. So ya Russia is about ten times better then north America
@@MarkYeung1 hey buddy.. do you have some delusion that Canadian police don't torture people your dreaming. How many diplomats have been injured by radiation?. Now they do it to injured defrauded workers that speak up.. Russia is probably more free currently then canada
My husband and I have two houses, one was rented until we got separated two years ago. He moved into another house while I occupy our primary resident. How will this new tax affect us when we divorce?
Thankyou Cherry, I’m interested to find out more about the new reporting rules for property held in trust (joint ownership) I don’t see a link in this video or the description. Where can I find that? Thankyou!
It doesn't "suck" that investors practicing short term realty rentals can no longer deduct expenses. What sucks is that some Canadians don't believe housing is a basic human right. Seriously, no one should be allowed to own more than one home for their own use. Housing is not meant to be a way for 'the haves' to make extra income. There are many more ways for those of you lucky enough to have extra income to earn dividends. Just like medical care should never be a way to make profits, housing should be treated the same way.
I grew up in government subsidized housing for many years in the other part of the world. My family was poor. We were able to qualify for government housing when I was little. I had lived in one of them for majority of my childhood and teenaged years. At least 30% of the population in Hong Kong are still relying on government subsidized housing today. I always wonder why Canadian government cannot build government subsidized housing, instead, they would need to blame all the issues on all the small scaled landlords - when in reality, they hold the biggest power to make a difference in housing supply. They are the one controlling the immigrant numbers, they are also the one who does urban planning. They knew all these issues all along. If housing can't be one investment vehicle, food cannot be used to make profit, how do you encourage small business owners to risk their assets to make our lives better? Electricity delivery is run as a non profit, but look at how much we are being charged and how much increase we experience year over year? In my mind, balance is what's needed.
