Taxes On The Sale Or Disposition of Property In Ontario
When disposing of any property like real estate, investments and bank accounts you must ensure that all the rules set forth by the Canadian government are followed when disposing of property to avoid potential tax problems.
This is why planning will help you minimize the tax if done properly and legally. Having a will also goes a long way in minimizing tax on the disposal of property. Speaking with good accountants and tax lawyers can help in planning for the disposition and understanding the laws about disposing of property.
An annual meeting with your lawyer, financial planner and accountant will go a long way in ensuring everything is properly structured for your particular situation and also keep you on top of these in the event the rules or laws change.
Watch the episode to learn more about tax considerations on the disposition of property.
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Joe Terceira / Sales Representative
Right At Home Realty Inc. Brokerage