Contact Us

Mew and Company

604-688-9198
Blog

Holding Real Estate Investments in the CCPC – Part 2

Posted by

In a recent blog, I explained why a CCPC shareholder is better off holding real estate investment or any passive investment in a CCPC versus personally. Those who are familiar with recent changes to CCPC tax laws will note that there is a $ 50,000 investment income ceiling, after which for every $ 1 additional investment income dollar will claw back the SBD by $ 5.  Hence, once investment income reaches $ 150,000, the entire SBD will be eliminated.  In other words, there is no income that ... Read More

Vancouver Real Estate Investments – Personal or Corporate Ownership?

Posted by

Difference Between Real Estate Development and Real Estate Investment

There is much confusion on the tax efficient way to hold real estate.  The confusion is because taxpayers confuse real estate development with real estate investment. If a taxpayer is planning to buy a piece of land and build a new house or substantially renovate an existing house, this is real estate development, NOT real estate “investment”.   The distinction is very important because the tax treatment of the ... Read More

12 Tax Rules and Real Estate

Posted by

12 Tax Rules and Real Estate Gain from sale of principal residence not taxable. Loss from sale of your principal residence not tax deductible. Sale of principal residence must be reported on the personal tax return. If a taxpayer owns more than one home for personal use and/or investment purpose, professional advisor should be consulted for optimal principal residence planning. The rules are complicated. Loss from sale of your real estate investment is considered a capital loss ... Read More

Non-Canadian Resident and Collecting Rental Income in Vancouver

Posted by

Non-Canadian residents who own Canadian real estate and collecting rental income have two ways to deal with the Canadian tax liability.

The first method is remit to the CRA, 25% tax on the gross rent collected.  This 25% is due to the CRA on the 15th of the following month the rental income was credited to the non-Canadian resident.  This tax is considered the final tax liability on the rental income and the non-Canadian resident has no further obligation.  However, the non-resident ... Read More

Inheritance and the Canadian Taxpayer

Posted by

While Inheritance is Non-taxable, A Word of Caution

Inheritances are non-taxable for Canadian taxpayers regardless of whether or not the inheritance comes from a Canadian citizen or a foreign citizen. This non-taxable tax treatment is also consistent regardless of whether or not the inheritance is straight cash, a summer house, a rental building or shares of a company. Before you become complacent, a word of caution! The non-taxable status of an inheritance doesn’t mean there aren’t ... Read More

Contact Us

MEW and COMPANY
Chartered Professional Accountants

Suite 418–788 Beatty St. Vancouver, BC V6B 2M1
Tel: 604 688 9198 | Fax: 604 688 9192

Suite 418–788 Beatty St.
Vancouver, BC V6B 2M1
Tel: 604 688 9198
Fax: 604 688 9192

Lilly Woo, CPA, CA, CFE, CFP (ext. 1)
Richard Mew, CPA, CA, CFP (ext. 2)

Follow Us

We are your Vancouver Accounting Firm

For everything from consultation to a comprehensive corporate tax plan, call us, we’re here to help. Whether you’re an incorporated Canadian business or a Canadian individual, whether you need financial statements or a comprehensive tax and estate plan, we know how to work within the current Canadian tax laws to minimize your tax burden and maximize your net worth.

© 2020 Mew & Company
Design: Angela Chan Design | Development: Metro Web Systems
Anney Ha Vancouver SEO Consultant