All Forum Posts by: Phillip Johnson

Hi guys,

I'm struggling to find information on a scheme similar to 1031 exchange for Canadian investing... Could this be due to something similar not existing? Or am I missing something in my research? 

Many thanks in advance,

Phil.

@Luc Boiron

So you can only depreciate to the amount you owe on the mortgage? This is pretty new to me and would love to know more on it, I'll put in some research soon. Is it a fairly straight forward process? 

@Jordan Hipson

Do you guys solely focus on the Halifax area? That's great news, in the UK you're so limited on landlord policies if you're not a Ltd company so it really sounds like this business could be much easier in Canada (phewph). I appreciate that, I'll definitely let you know.

Thanks for the advice guys!

@Roy N. @Paul MacInnis

Thanks again for the advice, I'll keep you posted on the move for sure!

@Paul MacInnis

That's probably an option I'll explore as it does make sense tax bracket wise, is there a way of getting liability insurance whilst operating that way? I know in the UK it's only landlords insurance (unless you become a Ltd Company) which doesn't cover major accidents and lawsuits. 

Wow, congrats on the 17th! That's a goal I'd love to work towards. Good job! 

@Roy N. @Paul MacInnis 

Thanks for the replies, I hear you both on the accountant... I learned that from my last property, I did everything myself from writing up contracts to tax returns (what a headache).

I'm leaning toward going incorporated so I can get liability insurance but I know the tax bracket goes up (if I'm not mistaken). Another option, that I'm a bit fuzzy on, is putting the property loan into my wife and I's names instead of just me to split tax... This isn't something I'm familiar with so it would be a new avenue to stroll down.

We'll be moving to Hammond plains, NS (Moncton, NB is also an option) due to my job (engineer) but looking to invest in multi plex in Halifax and Fredericton near universities.

Hi guys,

I'm fairly new to bigger pockets and haven't seen a thread on Canadian tax benefits to investment property. I'm originally from the UK with a small portfolio and am now looking to relocate to the Nova Scotia area. I have put some research into this but as we all know, experience out ways research any day of the week! 

Is there anyone out there that has dealt with tax returns on investment property in Canada? Any advice/tips would be greatly appreciated. 

Thank you in advance, Phil.