Monthly Archives: August 2012

Selling a Revenue Property in Vancouver 1 | Capital Gains Tax and Deducting Commission in Canada

Selling a Revenue Property in Vancouver 1 | Capital Gains Tax and Deducting Real Estate Commissions in Canada

So, you’ve decided to sell an investment condo or other revenue property in Vancouver. The first thing you’ll want to do is talk with your mortgage lender to check how much your mortgage penalties are going to be.

Once there is clarity on the costs to end the mortgage you have to consider The Taxman, aka Canada Revenue Agency (CRA).

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I recently had the pleasure of meeting with Vancouver Accountant Sean Akeroyd with Akeroyd & Leung about the tax implications of selling an investment property in Canada.

Are The Sale Proceeds of an Investment Property in Canada Taxable?

When selling a revenue property in   Continue Reading…

July 2012 REBGV Statistics Package

July 2012 REBGV Stats Package Mike Stewart

Greater Vancouver housing market hits summer lull

Residential property sales in Greater Vancouver remained at a 10-year low in July, while the number of properties being listed for sale continued to edge down and prices remained relatively stable.

The Real Estate Board of Greater Vancouver (REBGV) reports that there were 2,098 residential property sales of detached, attached and apartment properties in July. That’s an 18.4 per cent decline compared to the 2,571 sales in July 2011 and an  Continue Reading…