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Real Estate is important for a diversified portfolio. Besides the great tax breaks, Canadian real estate helps diversify and protect your retirement portfolio.
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Sharp Asset Management Inc. The Role of Real Estate in Retirement Planning in Canada 416-722-9009 contact@sharpasset.com
Introduction: Planning for retirement is essential to ensure you have enough income to maintain your desired lifestyle after you stop working. A secure income stream is crucial for covering your expenses in your golden years. Real estate can be a valuable tool to consider when crafting your retirement plan in Canada.
Tax Advantages of Real Estate for Canadian Retirement Principal Residence Exemption (PRE): Your principal residence enjoys a capital gains exemption (consult a tax advisor). This means profits from selling your primary home are generally not taxed. Reduce Taxable Income: For rental properties, claim Capital Cost Allowance (CCA). Deduct a portion of the building's cost from your rental income over time, lowering your taxable income. Downsize & Save: Selling your principal residence for a smaller home can generate tax-free capital, lower property taxes and maintenance costs, and potentially free up cash for retirement.
Considerations for Canadian Retirement Real Estate Investment
Considerations for Canadian Retirement Real Estate Investment
Considerations for Canadian Retirement Real Estate Investment
Contact us 21 Greenwin Village Rd. Toronto, Ontario M2R 2R9 416-722-9009 contact@sharpasset.com P.O BOX 74539 Humbertown Centre, 270 The Kingsway Toronto, ON M9A 5E2 www.sharpasset.com