Own a cottage or investment property? Here's how to navigate the new rules
Overview of transition rules around the inclusion-rate change and planning windows for cottage owners.
Summary of Tim Cestnick — The Globe and Mail (Tax Matters). The Globe and Mail. Read the original.
Summaries are for educational purposes. All rights to original articles remain with the publisher.
What it covers
Cestnick provides an overview of transitional relief and timing considerations around capital-gains inclusion changes. He explains how closing dates, conditions, possession, and documentation determine whether the old or new rules apply.
The article warns owners not to rush into a sale purely for tax reasons without having their numbers and paperwork in order.
Why it matters
The details of a transaction, not the intention, drive tax results. A poorly timed or poorly documented sale can miss available relief or create avoidable complexity.
Cottagr takeaway
If you are considering a sale during periods of rule changes, coordinate early with your tax and legal advisors and ensure your data in Cottagr matches what your professionals are modeling.
Summary of Tim Cestnick — The Globe and Mail (Tax Matters) — The Globe and Mail