Saving income tax in Canada can be challenging but it nice to know some simple tricks. If you’ve got an investment property mortgage in the past and plan on selling it soon, the money you earn from this transaction will be added to your personal income and in turn drastically increase your income tax.
Save Investment Property Taxes in Canada
Freedom Capital’s Unique Option to Save Income Tax
The best option to avoid paying higher taxes is to register the property under a holding company rather than your personal name. Then, once you’ve sold the property and made a profit on that investment, you’ll pay the reduced CRA taxes on it rather than adding it to your personal income.