Financial Library

The recent Federal Budget included measures to close a favorable tax rule for investors in investment accounts or through corporations, trusts and holding companies, who have proposed rules to curb the tax advantages of “corporate class” mutual fund shares.

Do you have a separate recreational property or a rental property? If so this may apply to you:

Some years ago, Roy and Mary bought a cottage at the lake in their home province for about $50,000 and today it is worth about $750,000. Over the years, they have spent about $100,000 on improvements to the property and they kept all receipts to prove it. Roy and Mary, like many, think that it will be easy to pass the cottage on to their children and grandchildren. It may be far more costly than they think.