GTA Accounting is a highly rated CPA Firm in Toronto
With over 200 5-star reviews on Google, GTA Accounting has also won awards on Clutch 2 years in a row, featured in the Toronto Star and is one of the Best Companies for 2022 on "ThreeBest Rated".
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Real Estate Investment
There is hardly any other investment that is more beneficial in terms of high capital appreciation, high income stream and tax advantages than investing in the real estate market. It brings not only financial benefits to the real estate investors, but it may also generate substantial tax savings that includes tax sheltering as well.
Real Estate Tax Laws
Owning property in Canada can be highly profitable if you understand the Canadian tax laws which are associated with real estate investments. Canadian laws are quite liberal when it comes to owning real estate. There is no residency or citizenship requirement for buying and owning property in Canada. Non-residents can also own rental property in Canada, but they need to file annual tax returns with the CRA.
Property taxes, line of credit interest and repairs & improvements can be considered as tax deductibles in Canada as long as the property remains an investment property. As an investor in real estate business, you need to be aware of the tax implications at every stage of the investment i.e.: from owning the property, to renting it, and to eventually selling it.
Hire A Professional Real Estate Tax Accountant
Investing your money in real estate can have many challenges and you must be prepared to ensure that your money is well invested. For real estate accounting services, you want the right professionals who must be able to categorize expenses appropriately and can deliver real estate accounting & tax knowledge efficiently and effectively.
Your real estate accountant should be an industry specialist as he will be protecting your business interest and enabling you to make smart real estate investments.
things to ask a real estate tax accountant
Why Choose GTA Accounting
GTA Accounting offers a number of tax services for real estate investors, developers, builders and contractors. Apart from preparing tax returns and financial statements, we can also analyze key financial ratios and prepare you for any loan application.
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