Helpful tax tips or do I need to just bend over and take it?

[Wetundies]

yup, 1 year, and 2 years if your a real estate agent.

[nature boy]

i think you mean "you're".
weird that it'd be more for a real estate agent. i guess since they're so engulfed in the market they could buy low and sell high a lot.

[Duncan]

[se7entse7en]

[joel]

looks like maybe it can be even less than 6 months required. the explanation on the form seems somewhat vague:
http://www.cra-arc.gc.ca/E/pub/tp/it120 ... l#P76_9122

[Duncan]

is the cra guide for charitable donations made by a canadian corporation

[joel]

ok more infos on primary residence.
you can only have 1 primary residence per family at a given time.

i was just reading the thing with sale of primary residence. apparently its some formula based on number of years as primary residence + 1 divided by # of years owned to get the % of that capital gain sale that is non-taxable. so if the place has been your primary residence since owning it then the whole thing is non-taxable.

[nature boy]

isn't jt an accountant? why isn't he giving tips instead of posting vids of his korean boyfriends?

anyway, i think your primary residence is whatever address is on your license. if you have 7 licenses, then i guess you can have 7 primary residences, but you'll also go to jail for fraud probably.

[Wetundies]

how can you trust an asian accountant who drives a mustang?

[joel]

there's a form with the gov that you use to change your primary residence. i think i vaguely remember applying for it, as you only get home owner's grant on property tax when you its your primary residence.

i think i had to include things like bills addressed to me at that address, like utility or home insurance, etc..

[nature boy]

are you sure that wasn't a 'change of address' form from the post office?

[joel]

it's been a while so i can't totally be sure, but i was pretty sure it had to do with making sure i was eligible for the property tax rebate. not all my mail is forwarded to my new address either. i still get mail at my parents place.

[joel]

to answer the original question posed by the forum subject tax tips or just taking it? i guess i vote for tax tips... i think if there are breaks, rules that allow us to minimize the tax we pay we should utilize them as much as we can. they are there for a reason.

but there are limits to how far i would go i suppose. obviously i don't want to just claim stuff for the sake of not paying taxes that have no conceivable consideration to running a business. i still understand taxes are important and serve a purpose. free medical care, education, infrastructure, etc... these things are important and needed to be funded somehow. pay whats due, but don't pay a cent more? but i guess what exactly is due can sometimes be a bit of a grey area depending on who you ask?

[nature boy]

[nature boy]