Tag Archives: real estate investors

Top 10 Tax Savings Tips for Canadian Real Estate Investors​

Following are Top 10 Tax Savings Tips for Canadian Real Estate Investors​:

  • Don’t exaggerate your home office expenses. This is a red flag for the CRA. There are always exceptions, but a good rule of thumb is a maximum of 25 per cent as the business share of heat, hydro, property taxes and so on. ​

  • Keep a careful log of car expenses. This is another red flag for CRA. ​

  • If you run into trouble or make a mistake, call the CRA. Most times they will be very helpful, especially if you call before the crunch.   ​

  • Whatever you do, don’t ignore communications from the CRA, respond promptly and make notes of your conversation right on the letter for future reference. ​

  • Unless you are incorporated you are required to complete a Statement of Business and Professional Activities (T2125) at he same time as you file your personal taxes. ​

  • Don’t wait until the last minute. It’s impossible to get yourself properly organized under eleventh-hour time pressure and it’s difficult to make good decisions to minimize your taxes. ​

  • Make an estimate of your expected tax bill. If your revenue is going to be high, you might consider making that machinery or computer purchase before year’s end. You’ll defray some of the expense through capital cost depreciation, says Cleo Hamel, senior tax analyst with H & R Block Canada.

  • You should set aside 30 to 40 per cent of your gross income to cover income tax and CPP.   Even if you are the only employee of your business, you are responsible for paying the employee and the employer CPP contributions. ​

  • Keep proper records differentiating business from personal. If you can’t prove it, the CRA will likely assume the expense is personal. Hamel recommends that you slot your expenses into the categories provided by CRA on the T2125. “Whatever you do, don’t have a large ​

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Canadian real estate and Importance of 420 (Weed)

As a Canadian real estate investor or home owner, having “420” attached to a house is a stigma. 420 is the police code for marijuana, and Canadians intend to light up on April 20th at 4:20 PM weed and celebrate it as a tradition. As a real estate investor we do not want to own a piece of property where there is a major issue of weed, drugs or crime.

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Tax sales in Nova Scotia

Nova Scotia Tax sale properties 2015

Tax sales in Nova Scotia: Visit the municipality below to find out about current or upcoming tax sales in the Nova Scotia region of Canada.

http://www.halifax.ca/revenue/tax/taxsale.html

http://www.westhants.ca/tax-sale-info.html

http://www.cumberlandcounty.ns.ca/tax-sale.html

http://www.chester.ca/administration/tax-sales.html

http://www.county.kings.ns.ca/business/taxsales.aspx

https://www.easthants.ca/content/tax-sale

http://www.modl.ca/component/search/?searchword=tax%20sale&searchphrase=all&Itemid=101

http://www.district.yarmouth.ns.ca/index.php/municipal/taxation-/property-tax-sale

http://www.novascotia.ca/snsmr/pdf/mun-MGA-resource-binder-3-2-tax-collection-guide.pdf

http://www.portcoquitlam.ca/City_Hall/Property_Taxes_and_Billings/Annual_Property_Tax_Sale.htm

http://www.town.windsor.ns.ca/tax-sale-stephens-yeatons-property.html

http://www.regionofqueens.com/finance/tax-sales

http://www.bridgewater.ca/finance-and-administration/

http://www.newglasgow.ca/departments/corporate-services-finance/tax-sales

http://www.townofpictou.ca/tax_sale.html

 

DISCLAIMER

We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.

Speaking Engagements

Navtaj Chandhoke can be your next key note speaker for real estate office meeting or Canadian real estate investment conventions, expos or trade shows.please contact us for topics and availability.
Please contact us directly at Pam@WorldWealthBuilders.com or 647-393-6100 to set up a session at your meeting or convention.

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P.S. Success isn’t a matter of chance, it’s a matter of choice. So it’s up to you to make the right choice to become successful. If you don’t know what to do it starts with making the choice to register for this LIVE real estate investors training in your town now at www.Flipping4Profit.ca and making sure you make the right choice to SHOW UP!!! Learn more to earn more about CanadianTax sale properties.

To learn the strategies, techniques and Eye Witness Real Estate Investors Field Training. How to acquire Tax Sale Properties & Sheriff Sale Properties, Click Here

Top 20 Reasons to join Real estate network clubs in Canada

Following are the 20 reasons to partake or join Real Estate Investment Clubs in Canada:

Canadian Real Estate Investment Strategies Apprenticeship (CREISA)1. Learn how to construct capital, attend Canadian Real Estate Investment Strategy Apprenticeship LIVE and learn Real Estate investing from experts who are in the trenches.

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Acquiring Tax Sale properties in Canada

Acquiring Tax Sale properties in Canada

Secrets of Super Wealthy Professional Real Estate Investors part 1 of 10:

Many provinces in Canada levy property tax on Real Estate based upon the current use and value of the land and this is the major source of revenue for most municipal governments in Canada. 
 
While property tax levels vary between municipalities in a province there is usually common property assessment or valuation criteria laid out in provincial legislation. The municipality has the right to collect property taxes owing even if they have to sell the property to recuperate the property taxes owing. These properties are never listed on MLS or Real Estate Brokers. This is another secret of super wealthy Professional Canadian Real Estate Investors and or Apprentices to acquiring Tax Sale properties in Canada.

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9 Critical Mistakes Made By Canadian Real Estate Investors

9 Critical Mistakes Made By Canadian Real Estate Investors

9 Critical Mistakes Made By Canadian Real Estate Investors:

As a Canadian  Real Estate investor and mentor, I often see novice Canadian Real Estate investors making the same exact mistakes. I created this list to help them realize what these common mistakes are and how to avoid them. 
 
The good news is that all of these mistakes can be easily corrected. 
 
The bad news is that any one of these mistakes will seriously limit your potential for success. In my experience, these are the 9 most common mistakes I see novice real estate investors make:

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7 Basic Repairs That Will Help You Sell Your Home Quicker

7 Basic Repairs That Will Help You Sell Your Home Quicker

7 Basic Repairs That Will Help You Sell Your Home Quicker:

There's a lot of competition in the housing market these days. There are the top 7 secrets revealed by an experienced professional Real Estate Investor
 
When you put your home up for sale, you're bound to be up against several other similar listings. That's why it is important to make sure your property is in a good state of repair so that it makes a good impression on potential buyers.

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Five Pearls of Wisdom for Canadian Real Estate Investing

Five Pearls of Wisdom for Canadian Real Estate Investing

Anyone that invests in Real Estate wants to do it successfully. Many books have been written on the subject. There are 5 simple concepts of investing in real estate that can guide you to success. 

Begin real estate investing early

Always keep a fund for emergencies then move onto investing long term. This means starting with your principal residence. You can start building equity early by investing in your principal residence. Renting does not build equity. 

Let us look at three real estate investors in the same age group in hypothetical situations. Each was paying $1,000 dollars a month towards accommodation until their retirement at the age of 65. Patrina starts at the age of 25 and bought her first house for $100,000.00 in 1985 which was financed 100%. After 25 years, her house is paid off in full for the rest of her life and she does not have to pay any rent or mortgage. This is very common among a lot of Canadians.

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Canadian Real Estate Investment Coaching

Canadian Real Estate Investment Coaching

“The fastest way to become the best is to learn from the best” Navtaj Chandhoke, Founder of Professional Real Estate Investors Group (PREIG) Canada.

Coaching from WorldWealthBuilders.com will make sure you succeed at every step of the Investing process.

Canadian Real Estate Investment coaches will help you kick start your Investments and will make sure you succeed. Canadian Real Estate Investment Coaching will help you develop skills to become a successful Real Estate Investor by working with a coach.

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Flipping Houses in Canada – Step by Step

Flipping Houses in Canada – Step by Step

So You Want To Learn The Process of Flipping Houses in Canada to make instant profits

Flipping houses in Canada is very lucrative business as well as investments. Just like any other business, you must go and learn from Flipping4Profit.ca. You also must become the member of Professional real estate investors group (PREIG) Canada to expand your learning and meeting professional real estate investors.

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