Now be concerned about Inheritance Taxes. 10 or 20% of your estate.
The current government is in great need of tax dollars, so the tax exempt portion of your home may become a thing of the past.
You can avoid Estate Taxes if you give money to your kids prior to your passing. This will become the new growth industry for accountants and lawyers.
Sell your home. Rent something. Give away your money to your kids.
NO TAX.
If you are in the house and pass, that now needs to be sold; your tax payable will be on the total estimated value of your estate.
Is it time to sell?
Call me 647 218 2414
I have a lawyer and accountants on Speed Dial.
https://www.blacklocks.ca/feds-eye-home-equity-tax/
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