Comments on: Canada’s Tax Authority Has Been On A Multi-Billion Dollar Real Estate Crackdown

By: Captain Awesome

Captain Awesome — Thu, 04 Aug 2022 19:36:39 +0000

No, no!! This time is different! Prices can only go up!!! Now is the best time to buy!!! 😃

By: ajay

ajay — Thu, 04 Aug 2022 17:30:04 +0000

In reply to Erik.

Good point. As a good citizen, you could send in leads to CRA at: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/suspected-tax-cheating-in-canada-overview.html

By: Dave Ball

Dave Ball — Thu, 04 Aug 2022 03:22:02 +0000

These taxes are some of the reasons we have declined to rent a portion of our house. Others reasons include: Insurance cost would increase. Any income would be taxed at our nominal rate. And we would lose some of the CGE. Add in crazy rental laws like not being able to end a tenancy, penalties if you do for family reasons and no fixed term rentals. All this to earn a few hundred dollars a month while giving up personal space and dealing with the cost, wear and tear and hassles of renters. This illustrates the problem with housing in Canada. There are too many dogs trying to feed off the carcass of beleaguered homeowners. From bankers to insurers to multiple taxation authorities, they make doing business as a small holdings landlord a wasted effort. Renters suffer as a result with fewer choices and higher prices.

By: Ann Marie Gallinger

Ann Marie Gallinger — Wed, 03 Aug 2022 21:08:27 +0000

Hi , I have a question to ask. My sister left me her house in her will and the lawyer told her it would be better if she just added my name on the deed to the property, that way I would not have to pay inheritance tax. Well my sister got sick and we lived in the country and she could no longer drive , plus I have catteracts and cannot see to drive either. So my sister sold her house. Now She has bought another house with her money from selling the first house . None of this money was mine I am on CPP and I receive GIS will I be affected by any of this . I am not to receive a dime until her death but the house was paid out in 2 names .What can I do about this I can not lose my pensions over this since I didn’t get one dime of the money . Please tell me what to do . Thank-you

By: Balter

Balter — Wed, 03 Aug 2022 16:43:52 +0000

Well worth a look – like broken window theory, some of these will lead to human trafficking and money laundering – although probably not the ones well versed enough to hire sharp lawyers… and former CRA adjusters too: if the racket can offer 10x your wages as an investigator, it will. Some will take it (especially if the alternative is worrying about injury and extortion)

By: SRP

SRP — Wed, 03 Aug 2022 11:59:46 +0000

All small action make difference….. some people owning multiple homes with million dollars value & they are still eligible for all government benefits like child benefit, gst

By: Kevin Sequeira

Kevin Sequeira — Wed, 03 Aug 2022 01:22:22 +0000

In reply to Gerald Haw. Bahaha say you work for the real estate industry without actually saying you work for the real estate industry. Oh wait, too late.

By: Justin Case

Justin Case — Wed, 03 Aug 2022 00:52:10 +0000

Better late than never.

By: Ron Bruce

Ron Bruce — Wed, 03 Aug 2022 00:33:33 +0000

If the CRA has been looking the other way, what is FINTRAC hiding?

By: CD

CD — Wed, 03 Aug 2022 00:23:57 +0000

In reply to Gerald Haw. How is it a cash grab when CRA goes after tax evaders?