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Beginners Board
What to charge my dad
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<blockquote data-quote="hillsdown" data-source="post: 486137" data-attributes="member: 5106"><p>No there is no such thing as death or inheritance tax in Canada.But when you sell and make a profit you have to pay tax and you cannot sell your property to your kids for a dollar etc.There is a personal exemption for 250000 per person per life time as far as I know and land always appreciates so the value always goes up.In most cases anyways.So someone has to take the tax burden whether it be the parents or the kids.</p></blockquote><p></p>
[QUOTE="hillsdown, post: 486137, member: 5106"] No there is no such thing as death or inheritance tax in Canada.But when you sell and make a profit you have to pay tax and you cannot sell your property to your kids for a dollar etc.There is a personal exemption for 250000 per person per life time as far as I know and land always appreciates so the value always goes up.In most cases anyways.So someone has to take the tax burden whether it be the parents or the kids. [/QUOTE]
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What to charge my dad
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