Ruby Cheung Mortgages Important Documentary on Global Warming Newsletter November 2016 Edition No. 4

Ruby Cheung - Mortgage Broker

Centum Pacific Mortgages Inc.

msrubycheung@gmail.com
604.720.6176
http://www.rubycheung.ca/

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Important Documentary on Global Warming

 

The film shows DiCaprio visiting various regions of the globe exploring the impact of man-made global warming

DiCaprio's comments and inquiries focus extensively on climate change denial, mostly among corporate lobbyists and politicians of the United States.

Click link below to view on IMDb 

Before the Flood Documentary on Global Warming



Foreclosures

 

Nov Abbotsford Attached
Nov Abbotsford Detached
Nov Chilliwack Attached
Nov Chilliwack Detached
Nov Langley Attached
Nov Langley Detached
Nov Mission Detached
Nov New Westminster Attached
Nov North Vancouver Attached
Nov Pitt Meadows Detached
Nov Port Moody Attached
Nov Richmond Attached
Nov Surrey Attached
Nov Surrey Detached
Nov Vancouver East Attached
Nov Vancouver East Detached
Nov Vancouver West Attached
Nov Vancouver West Detached

Above is a list of foreclosures in the Lower Mainland.

There are some great deals to be had for either your own home or as a rental property.  Check them out at the links above.

You must do your due diligence even more so when buying these properties.There is usually a good reason that a foreclosure is not selling ... but occasionally (once you identify the issues) you can turn these lemons into your personal "little gold mines!"

Do your homework before investing!



Understanding the Home Buyers' Plan HBP?

 

The Home Buyers' Plan (HBP) is a program that allows you to withdraw up to $25,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. Certain restrictions apply.

Note: the following government form below must be completed to qualify and it must repaid to the RRSP to qualify within 15 years or you will be taxed accordingly.

form T1036 Home Buyers' Plan (HBP) Request to Withdraw Funds from an RRSP

Consult your financial planner 

http://www.cra-arc.gc.ca/hbp/



Mexican Riviera Cruise Vacation

 

Mexican cruise port 1
Mexican cruise port 1a
Mexican cruise port 2
Mexican cruise port 2a
Mexican cruise port 2b
Mexican cruise port 3
Mexican cruise port 3b
Mexican cruise port 3c
Mexican cruise port 3d
Us departing cruise port
Us departing cruise port a
Us departing cruise port b

Click above and guess these port destinations

On November 5th my husband and went on a Carnival Cruise vacation from Los Angeles Long Beach on the Carnival Miracle. Previously we chose Caribbean cruises from Miami, Fort Lauderdale and Port of Canaveral.  Our favourite eastern port and easiest access is Miami. The positive aspect of choosing Long beach is that it is only a 3 hour plane ride from Vancouver. Whereas, when we flew to Miami we would fly in the night before since it took a good 12 hours or more to fly to Miami with the 1 stop since there is no direct flight from Vancouver

The Mexican Riviera Ports of call that we visited were Cabos San Lucas, Mazatlan and Puerto  of Vallarta  These ports have a similar feel to the Caribbean in terms of temperature and culture. We enjoyed Puerto Vallarta the most since it was more developed. We felt very safe while we were there and walked  the El Malecon Boardwalk.



Ellen's Got Real Estate Tips

 

She knows a thing or two about buying houses, and she's sharing some of her knowledge with you!

Watch here...



Capital gains tax strategies change under new tax rules

 

For most Canadians, the new requirement to report the sale of a principal residence will be nothing more than a compliance exercise—but one shadowed by the threat of unrestricted audits and sizeable penalties. To help you negotiate through the new reporting rules, please see the 8 questions you have about principal residence tax rules. But for families with more than one property as well as real estate investors, this new requirement may introduce a few wrinkles into the more common capital gains strategies used to minimize the amount of tax owed to the CRA.

To help you maximize the capital gains tax strategies under this new reporting requirement, here are eight tips and suggestions.

Tip #2: A change in use is also considered a sale

Even if you haven’t actually put your home up for sale, the CRA will deem it to be sold if you change the use of the property. Take, for example, you decide to buy a new, larger home for your growing family but want to hold onto your current property and rent it out. The CRA considers this a “deemed disposition”—you haven’t actually transferred the ownership to another person, but you have changed the primary use of the property, from your family home to a rental property. As such, the CRA will consider the home sold, for tax purposes, at the current fair market value.

Thing is, there are a number of ways to trigger a deemed disposition. The most common way is to change the use of a property—from a family home to a rental property. Another way to trigger this type of taxable disposition is to gift the property to a third party. Do this and the property is deemed to have been sold at its fair market value, at that time. One final way to trigger a deemed disposition is when the taxpayer ceases to be a resident of Canada, for tax purposes. In all cases, the owed tax can be delayed and deferred until the property is actually sold, but for specific advice always talk to a tax specialist.

Read more: Can you avoid capital gains tax »



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