Satellite family? You’ve got tax issues – and exemptions.
You are in the right place to discover if you are a satellite family for British Columbia real estate property ownership and applicable tax reasons. As a member of a satellite family, you may also qualify for tax exemptions that may be available to you when filling out your annual declaration.
Check these 3 main categories of tax exemptions on residential property
Each member of the ownership can claim exemptions they qualify for and those exemptions generally fall into residential properties in these three main categories:
Affected by the new Speculation and Vacancy Taxes? You’ve got tax issues.
In 2018, British Columbia announced The Speculation Tax and Vacancy Tax and it also took effect in 2018. So, in this post we’ll look at the purpose of the tax, properties to which the tax applies, and more.
Have you changed the use of your residential real estate? You’ve got tax issues.
If you are planning to rent out your home, or if during the year you’ve moved out of your home and have begun to rent it out, you’ll want to pay close attention.
Planning to rent out a part of your home? You’ve got tax issues.
Did you know that renting out part of your home could trigger a partial change in use which can impact your taxes? At JLT CPA we focus primarily on real estate tax issues and today I’d like to cover what we call a ‘partial change in use’. It can be [...]
Building a Laneway Home? You’ve got tax issues.
Is constructing a laneway home on your mind? At JLT CPA we focus primarily on real estate tax issues and today I’d like to talk to you about something to consider before you build. If you are thinking of constructing a laneway home be aware that some tax issues may [...]