Davelle Morrison

Guest Speaker: Daniel Toma, Chartered Accountant • Write-offs for people with basement apartment or another suite in their home they rent out • What percentage of their home expenses can they write-off and how is that determined? • Write-offs for real estate investors that own 1 or more property • What is depreciation and how does it work when you sell your property? • Depreciation of principal residence if it includes a rental component • Are there any differences if someone is renting their place out on AirBNB? • How long do you need to live in your home for it to be considered a principal residence? • How HST works for purchase of a new condo when you are planning to live there vs an investor • How HST works if you are purchasing a home built by a builder • Should an investor form a corporation to purchase real estate? What are the advantages or disadvantages of it? • Do investors need separate bank accounts for each property? • Should parents consider buying a rental property in their child’s name?