Decent video, It would have been better if you had worked through that excel sheet example to the end to show the splitting of the deferred capital gain
Questions: 1. When you execute the estate freeze and transfer the portfolio to the Family Trust. Will land transfer tax get triggered for each individual properties? 2. Can members of the beneficiaries in a family trust be interchangeable? Add and remove individuals? What are the penalties or tax implications if you do so?
If you add a vacation property (non-rental) to a family trust, and the next generation continues to hold and use the vacation property, is the utilization of this property a taxable benefit?
Interesting video. Can you do a video about setting up a family foundation for donations? Or is that similar to what you have mentioned here? Thank you
I think investors should always put their cash to work, especially In 2025, we'll start to see more market diversification. Considering the performance of bitcoin lately it is safe to say the crypto market is the best smart investment out there. Hoping I’m not the only one with this thought
Of course, the crypto market is likely the best smart investment. However, if you are thinking of investing in the market and you are not well versed, its advisable to work with a financial advisor who is an expert to guide you through the process. this way you could make more profit with less risk
Absolutely.. based on my personal experience working with an investment advisor, I currently have $385k in a well-diversified portfolio that has seen exponential growth. It's not just about having money to invest in bitcoin; you also need to be knowledgeable, persistent, and have the strength to hold on during market fluctuations
Decent video, It would have been better if you had worked through that excel sheet example to the end to show the splitting of the deferred capital gain
Thanks for the suggestion, will be mindful for next time
Questions:
1. When you execute the estate freeze and transfer the portfolio to the Family Trust. Will land transfer tax get triggered for each individual properties?
2. Can members of the beneficiaries in a family trust be interchangeable? Add and remove individuals? What are the penalties or tax implications if you do so?
1. potentially depending on who owns the properties to begin with
2. potentially, based on how you word your trust document
If you add a vacation property (non-rental) to a family trust, and the next generation continues to hold and use the vacation property, is the utilization of this property a taxable benefit?
is the family trust an active business? It would be collecting rental income for example or interest and it’s a passive company isn’t it?
Depending on how you operate your rental... definitely TOSI concern.
If I transfer property to a family trust, does capital gain tax need to be paid right away?
Interesting video. Can you do a video about setting up a family foundation for donations? Or is that similar to what you have mentioned here? Thank you
Great idea! I'll keep that in mind for future video production.
What’s your company name? Would love to speak with you?
Hi, you can reach out to us at realestatetaxtips.ca/contact-us/. Thanks!
Your comment about dividends distributed to a family trust, then to the beneficiaries would fall under TOSI rules. Be careful advising this to clients
Thank you and appreciate it. We always take into account the implication of TOSI
I think investors should always put their cash to work, especially In 2025, we'll start to see more market diversification. Considering the performance of bitcoin lately it is safe to say the crypto market is the best smart investment out there. Hoping I’m not the only one with this thought
Of course, the crypto market is likely the best smart investment. However, if you are thinking of investing in the market and you are not well versed, its advisable to work with a financial advisor who is an expert to guide you through the process. this way you could make more profit with less risk
Absolutely.. based on my personal experience working with an investment advisor, I currently have $385k in a well-diversified portfolio that has seen exponential growth. It's not just about having money to invest in bitcoin; you also need to be knowledgeable, persistent, and have the strength to hold on during market fluctuations