British Columbia’s potential LNG production boom just got louder.
Energy Minister Rich Coleman announced Wednesday that the provincial government has received four “new major international LNG project proposals” to develop liquefied natural gas export terminals, all in the Prince Rupert area. That’s on top of six multi-billion-dollar export facilities already proposed for Kitimat and Prince Rupert, and at least two others that are in preliminary stages of consideration. Continue Readig
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Sotheby’s International Realty is seeing a surge in demand from wealthy Syrians, Egyptians and Europeans looking for a safe and relatively stable place to park their millions — Canada’s softening real estate market.
Continue Reading Despite continuing predictions of a real estate crash in Canada, I still maintain that real estate is a good investment. One of the greatest benefits to real estate investing is that it’s probably one of the more accessible ways to invest using borrowed money.
Continue Reading You just sold your condo, you made a hefty profit and know you have to pay your taxes.
The bill might be more than you think. If it’s your principal residence, there’s no tax, as long as you have the paperwork to prove it. The Canada Revenue Agency is taking a closer look at the condominium sector in what some in the industry have dubbed the “Condo Project.” You might want to think very carefully about how you record that housing sale you made in 2012 Even if you own up to it being an investment property, you may not be allowed the capital gains tax break and that means a bigger hunk of your profit going to Ottawa. Let’s say your gain is $100,000 and your tax bracket is 46%. Capital gains are taxed at 50% so you would only owe $23,000 on that profit. Not so fast! If the CRA says you are in the business of flipping condominiums, get ready to pay based on the gain being counted as income for a tax bill of twice the amount at $46,000. And, it gets worse. You could also face a fine of up to 50% of the tax owed for making a false disclosure. Continue reading VANCOUVER (NEWS1130) – Consumer confidence is falling, according to a survey, but people in BC are by far Canada’s most optimistic.
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AuthorRasam Hafezi: Archives
March 2015
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