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A Liquidity Crunch in Vancouver

Just two years back, when buying condo presales was the rage of investing free cash in Vancouver, I wrote a short blog cautioning investors to begin preparation years ahead for the closing date of the deal.  When the condo completes, full payment of the balance on the condo is required to close the deal; hence qualifying for the mortgage at

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Death of a Taxpayer – A To Do List

Death of a family member is one of the most stressful events in life.  To compound the grief, there are final tax matters to deal with either by April 30th of the following year or 6 months after the date of death. What To Do Upon The Death of a Taxpayer? Upon the death of a taxpayer, at a minimum,

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Vancouver Sale of Rental Property and the Principal Residence Exemption

While at dinner recently, a friend of mine, Carla, informed me that she sold her rental property and was curious about the amount of tax that she would owe on the gain. Upon further questioning, I uncovered that, in the past, my friend had lived in this rental property (a condo) for many years. She purchased a second condo a

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