You Asked and You Shall Receive!
  
Thanks to everyone who asked when I was going to be sending a regular newsletter.
Seems fitting since I share so much information through my seminars and speaking with my mortgage clients, that I add a regular email to keep you up to date.
Everyone receiving this has opted in voluntarily to my list at some point. If you want to unsubscribe, no worries... just click the link at the bottom of this email.
Hope you enjoy!
Upcoming Events: Women and Money, Save $ on Your Mortgage
Seminar - Women and Money (Nov 9)
Do not miss this free event in Pickering tonight! Thursday Nov 9 at 6:30pm. Rosemary McCanny, CFP and Tracy Campbell, CFP are hosting this event just for women (and men who are invited by a woman).
As we are raising a family, fostering our careers, planning vacations, volunteering in our community, enjoying friends, juggling life can sometimes be tough. Learn how to make your finances work for you!
Reply to this newsletter email for more details and to attend.
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Seminar - Mortgages: What You Don’t Know Will Cost You Thousands (March 3)
Think a seminar on mortgages is boring? Not worth your time? How about if I told you that spending 90 minutes with me could save you $5,000 or more. That's right!
Last month I hosted a seminar that covered mortgage pitfalls that cost you lots. We even covered the new mortgage rules coming on Jan 1. The audience found out how to save money on their mortgage... cold hard cash they could use for more important things in their life!
Wish you were there? Here's your chance! I am hosting another one on Saturday March 3, 2018, at 10am at OLG Slots at Ajax Downs.
Go to http://healthywallet.com/events to book your seat today. Best part is, it's free!
Man Sentenced, Fined for Real Estate Income Tax Evasion by CRA
Full story here: https://goo.gl/PK25em
I believe the main defense most people give CRA when they are audited for this type of situation is "Oh really, I didn't know."
Process:
1. Act surprised and in shock
2. CRA processes you with taxes + fines
My guess is this did not happen for Mr. Dhudwal as he owned eight properties, did not claim business income, did not claim capital gains and did not claim rental income on his 2007 to 2011 income taxes.
This put him in a situation to plead guilty to Income Tax Evasion.
Quote from article:
“When taxpayers are convicted of income tax evasion, they must still repay the full amount of taxes owing, plus interest and any civil penalties that may be assessed by the CRA. In addition, the court may fine them up to 200 per cent of the taxes evaded and impose a jail term of up to five years.”
If you do the math, rental income (with expenses) + capital gains are generally taxed comparatively low. Do yourself a favour and report accordingly.
****If you are in the business of investing in or flipping properties, make sure you use an excellent accountant.
If you need an excellent accountant, I have one. Message me for contact info.
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