All Forum Posts by: Leona N.

Roy N. yes we hold rental property in our corp for the purpose of generating income. It is currently taxed at 51% as it does not qualify for the small business tax rate (our construction side is still at the SB tax rate). Not sure what other provinces will increase to but if this goes through instead of the 51% rate it will be 70% Manitoba will be 73%. As of now we don't know if there will be some sort of grandfather clause or how it will be structured. Getting it out of the corp isn't an option as paying full market value would put us over every limit.

Hey, I posted a separate thread and got no response. I'm one of the unfortunate people with real estate inside a corporation hoping to connect with others on the same position and come up with a plan. Here is my original post. Wanted to start a thread addressing the implications of the proposed tax changes to Canadian corporations. I will be greatly affected and am worried about our viability in the future. Wondering how you plan on easing the transition, or how you'll adapt going forward. My accountant has drafted up a letter template to send to our local MP and I can forward it on to anyone that would like.

@Arthur Neves message me your email address and I can send them to you.

As of now it's all going through, Oct. 2nd will be the official date. They are back dating gains taxes to July though. Did you want a template letter? I can send you one from my CPA.

Anyone?

Wanted to start a thread addressing the implications of the proposed tax changes to Canadian corporations. I will be greatly affected and am worried about our viability in the future. Wondering how you plan on easing the transition, or how you'll adapt going forward. My accountant has drafted up a letter template to send to our local MP and I can forward it on to anyone that would like.

$100-$150 but it's becoming extremely difficult to find even that in my area. For this reason we are holding off on more local purchases.

Also wanted to say Redgy Saint-Germain if you haven't listened to Austin's podcast 239, it's a good one. I think it's a great example of the bridge between the two.

Love this thread and both approaches!  @Matthew Olszak great way to put it.

Overall I like being a landlord. I definitely find commercial properties more professional and easier to manage than residential. Of our residential I find the nicer the house the better the tenants are to deal with. I, like Joe Scaparra I do random gifts usually around thanks giving and Christmas. I find keeping a good relationship important, but our tenants are also our neighbors. If I wind up buying in another province or city I will hire a PM.