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DavidNY
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Postby DavidNY » Fri Apr 27, 2012 2:34 pm

In the US, mortgage interest is tax-deductible. In Canada, it isn't. This makes getting a mortgage on Canadian RE a bit pricier.

On the flipside, gambling winnings are taxable in the US. In Canada, they aren't.


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FastSRT8
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Postby FastSRT8 » Fri Apr 27, 2012 3:03 pm

Hmmm I wonder how far I will get with Revenue Canada if I declare my profits from real estate deals as "gambling wins". Hey real estate is like gambling!!
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JCarter
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Postby JCarter » Fri Apr 27, 2012 6:55 pm

FastSRT8 wrote:Hmmm I wonder how far I will get with Revenue Canada if I declare my profits from real estate deals as "gambling wins". Hey real estate is like gambling!!


There are methods to do this, consult a tax attorney.

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FastSRT8
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Postby FastSRT8 » Fri Apr 27, 2012 6:57 pm

;) yup... leave it to the experts!
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