Day: August 16, 2024

Corporate structure: First what you should do before buying a rental property is determine whether to register a corporation for this purpose or make a purchase as a private person. If you are able to pay for insurance when acquiring a property, the benefit from using a corporate structure will be insignificant. Since year 2011…

Each year there are a large number of changes to the Income Tax Act (“ITA”) of Canada as well as points of clarification provided by the Canadian Revenue Agency (“CRA”) and the Tax Court of Canada. This article will discuss some of the more important points related to the 2016 tax year. (more…)