Real Estate Investors still not satisfied by capital gains tax law
By Mark Vosylius, Toronto, Ontario
(Mana Investments )
Disappointing Budget for real estate investorsThe recent budget presented by the Tory government was a disappointment for small real estate investors who use real estate holdings as a way to build a retirement fund. The expected elimination of the capital gains tax when re-investing back into real estate did not come into fruition as Minister Jim Flaherty alluded to in his election promises.That means for us investors, if we sell one of our investment properties and realize a capital gains on the profit, we will be taxed even if we use those profits to re-invest. This is certainly a deterrent to the thousands of small landlords who see potential profits in the sale of their investments but hesitate to sell due to the existing capital gains laws.MANA REAL ESTATE GROUP Our focus is on rea...
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