If you’re a landlord, it’s important to understand how to file your rental income come tax time. Whether you’re renting out a basement apartment or an investment property, you’ll need to report your rental income. This is done by completing Form T776, Statement of Real Estate Rentals. If you’re filing your own income tax, you’ll…

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This is a guest post by Clare. With roller coaster housing prices and more people finding that renting is better idea than buying, there will be more people turning to renting. You may be interested in becoming a landlord for that passive income experience. As a beginner landlord, I’ve learned a few things along the…

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There are many posts dealing with real estate and housing on this blog. But, a topic not discussed yet is co-operative (or co-op) housing. Lets start with some of the basics. What is a Housing Co-op? A housing co-operative is, most times, a not-for-profit corporation governed by the co-op act of the province or territory…

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There is often much discussion about the best way to pay back the RRSP home buyer’s plan, namely the specifics of when, how much, and how soon to pay back the money you borrowed from yourself. The TFSA Changed the Game… With the creation of the Tax Free Savings Account, and the tax free gains…

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This is a post by Sean Cooper. Mortgages have been a hot-button issue as of late. Finance Minister Jim Flaherty recently reduced the maximum mortgage amortization for high ratio mortgages from 30 years to 25 years (it still remains at 30 years for conventional mortgages). He preached the benefits of a shorter amortization: “(The change)…

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