The article “Can you gift a farm to your kids to avoid taxes?” was originally published in MoneySense on September 12, 2022. Photo by Jake Heinemann on Pexels. The idea to gift property to a family member for a dollar to avoid tax is a common one. But can this…

The article “Should you buy real estate through a corporation?” was originally published in MoneySense on September 12, 2022. Photo by Pixabay on Pexels. It can make sense to purchase rental or vacation properties through a corporation, but often it’s simpler—and less risky from a tax perspective—to own the real…

The article “Will you make money on your rental property?” was originally published in MoneySense on September 7, 2022. Photo by Timur Saglambilek on Pexels. Rental real estate has been a great investment for many Canadians. But how do you assess whether yours is likely to work out? After a…

The article “What time of year should you retire?” was originally published in MoneySense on September 6, 2022. Photo by Kampus Production from Pexels. When’s the best time to retire? The timing is not always up to you, but if you can choose, there may be an ideal date. “Is…

The article “How to invest with spousal loans for Canadians—and how to pay it back” was originally published in MoneySense on August 30, 2022. Photo by Antoni Shkraba on Pexels. There is plenty of advice on setting up a spousal loan for income splitting, but it’s important to know what…

The article “Do you have to split your estate evenly between your children?” was originally published in MoneySense on August 23, 2022. Photo by Askar Abayev from Pexels. Courts in some provinces can vary the distribution of an estate and override a last will and testament. Here’s how it could…

The article “How capital gains tax on property is divided in a divorce” was originally published in MoneySense on August 15, 2022. Photo by Andrea Piacquadio from Pexels. When a couple separates, how does owning, transferring and dividing multiple properties affect capital gains? My spouse and I separated in September…

Doing home renovations? Find out if there are any tax incentives that Canadians are able to claim. We are upgrading our electrical and removing an oil furnace and wood furnace. We are replacing them with a ducted heat pump. So, the question is will we get any tax break where…

The article “U.S. withholding tax in an RRSP for Canadians” was originally published in MoneySense on August 2, 2022. Photo by Alexander Mils from Pexels. For Canadians who have withholding tax on U.S. income in an RRSP, sometimes this tax can be avoided. I have EPD stock in my RRSP…

The article “Should you transfer property to a child and then rent it from them?” was originally published in MoneySense on July 26, 2022. Photo by Mushtaq Hussain on Pexels. Satyesh is considering transferring his home to his daughter and then renting it back from her. What are the tax…