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…

The article “Are fees payable for acting as a power of attorney?” was originally published in MoneySense on July 19, 2022. Photo by Kaboompics.com from Pexels Can you be paid for a role as an attorney for property, in particular, after the position has already been resigned? Can a fee…

The article “Should I sell and rent or get a reverse mortgage?” was originally published in MoneySense on July 4, 2022. Photo by Alex P from Pexels. What to consider before selling your home or getting a reverse mortgage. The math reveals the real costs for retirees. I’m an 82-year-old…

Joan and her partner own the condo her son lives in, but they want to transfer ownership to him. What are the tax implications? We purchased a condo for our son, who has been using it as his principal residence for over 10 years. He has made improvements, but the…

The article “Capital gains, taxes and more: The implications of inheriting real estate” was originally published in MoneySense on June 20, 2022. Photo Greta Hoffman from Pexels. There are tax, estate and other implications when inheriting real estate, even from family. I’ve been reading a lot of articles on how…