Is there a good reference on taxation for real estate investors. let's say for BRRRR that could possibly cover Canada? i'm looking for info about how to structure a company, adding JPs and so on.
Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
6y
Planning before you start investing is commendable - lots of folks buy their first property (or few properties) before establishing a plan. I usually recommend setting your near, mid, and long-term goals down in bullet form and then spend a little money to sit down with your accountant and devise a plan that meets your immediate needs, but which can evolve to meet your longer term goals with a minimal of tax exposure along the way.
A good primer for you before you meet with an accountant is Steven Cohen and George Dube' s "Legal, Tax and Accounting Strategies for the Canadian Real Estate Investor".
Investor · Regina, SK · Member since 2017 · 76 posts · 56 votes
6y
BDO often posts short information bulletins that come up through searching topics such as real estate investing tax information. CRA also has quite a bit of information on their website that is relevant for Canadians.
An experienced accountant will be able to explain the different corporate structures available and could help you determine which is best for your situation.
You will be much better off to discuss your options with a CPA who has experience working with other clients that invest in real estate.
Reach out to a couple different accountants then pick whichever one you think will work best.