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Jun 26, 2024 · When Carolyn and I got married 27 years ago she jokingly said: “What’s mine is mine, and what’s yours is mine.” When our son recently got married, I told him that putting assets in his wife’s...
- Clever planning can make a cottage transfer tax-smart
Mark wants to sell the cottage to his kids at a price of...
- Clever planning can make a cottage transfer tax-smart
Jun 26, 2024 · Tim Cestnick, FCPA, FCA, CPA (IL), CFP, TEP, is the co-founder and CEO of Our Family Office Inc. He enjoys a reputation as one of Canada’s most respected experts and public...
5 days ago · Mark wants to sell the cottage to his kids at a price of just $100,000. It’s an amount the two kids can afford – just $50,000 each. The problem is that our tax law will deem Mark to have sold ...
Jun 11, 2024 · Mississauga residents have elected just their third mayor since 1978. Carolyn Parrish has emerged victorious with more than 43,000 votes in the mayoral byelection. City councillor Alvin Tedjo ...
4 days ago · So, if Mark sells the cottage to the kids, the first $250,000 of the capital gain will be subject to a 50-per-cent inclusion rate, while the balance will be twothirds taxable. To make matters worse, the adjusted cost base to the children will be just $100,000 – the selling price.
Jun 20, 2024 · 2024-06-20 - Author and co-founder and CEO of Our Family Office Inc. He can be reached at tim@ourfamilyoffice.ca. TIM CESTNICK OPINION. Getting married comes with more than just wedding expenses – there are tax changes and perks to prepare for. Our son Win got married on the weekend to Sarah.
5 days ago · Mississauga's newly elected Mayor Carolyn Parrish has used strong mayor powers multiple times since being sworn-in, despite saying she would avoid them where possible on the campaign trail.
