Estate Sale
Posted in Uncategorized on 03/25/2009 01:29 pm by admin |
 Vintage Vase Hourglass Ivory beautiful unique purchased at estate sale WW $17.99 Time Remaining: 13h 20m Buy It Now for only: $45.99 |
 J Wedgwood Ironstone Pitcher Vintage Antique Ware Estate sale find $16.99 Time Remaining: 28d 10h 50m Buy It Now for only: $16.99 |
 FROM RECENT SAN ANTONIO TEXAS ESTATE SALE 3 VINTAGE PIECES SOUVENIR POTTERY $149.95 Time Remaining: 27d 14h 19m Buy It Now for only: $149.95 |
 Pair 2 of Vintage Blue Glass Lizard Vases Estate Sale Find $15.00 (2 Bids) Time Remaining: 18h 55m |
 ANTIQUE ROUND GESSO WOOD Victorian Mirror From Estate Sale Gold Frame $99.99 Time Remaining: 12d 22h 58m Buy It Now for only: $99.99 |
 SALE ANTIQUE ESTATE LARGE GILT GOLD LEAF MIRROR SALE $999.95 Time Remaining: 1d 10h 17m Buy It Now for only: $999.95 |
 HAND CARVED BIRD PRIMITIVE ESTATE SALE ITEM DARK WOOD $19.99 Time Remaining: 20h 8m |
 ANTIQUE VINTAGE RARE OLD VICTORIAN FLOWERED ROYAL VASE FROM ESTATE SALE FS $26.34 Time Remaining: 25d 14h 38m Buy It Now for only: $26.34 |
 ESTATE VINTAGE TEA POT SET W SUGAR CREAMER GOOSE AND GOSLINGS FOR SALE BUY $19.99 Time Remaining: 1d 19h 5m Buy It Now for only: $49.99 |
 Antique 19 Century wood carving Black Forest nutcracker woman Estate Sale FIND $49.75 Time Remaining: 16d 2h 22m Buy It Now for only: $49.75 |
 Antique bowl grape white milk glass planter vase fruit candy dish estate sale VG $15.00 Time Remaining: 2h 44m Buy It Now for only: $15.00 |
 RAREFINE ANTIQUE CAMEO ART GLASS VASE GEORGE WOODALL c1880 ESTATE SALE $4,800.00 Time Remaining: 1d 20h 21m Buy It Now for only: $5,800.00 |
 Vintage Neo Classical Style Gold Mirror found in estate sale in Portland Orego $695.00 Time Remaining: 9d 13h 14m Buy It Now for only: $695.00 |
 Antique Wood ceramic Tile Cheese Tray Platter plate server Vintage estate sale $35.00 Time Remaining: 15d 22h 23m Buy It Now for only: $35.00 |
 Estate sale hand crafted pottery vase lamp base $12.99 Time Remaining: 2d 12h 59m |
 RARE UNMARKED ENGLISH FR PRATT CO PLATE 123 FENTON 1850s ESTATE FIND SALE $45.00 Time Remaining: 21d 29m Buy It Now for only: $45.00 |
 VINTAGE ANTIQUE METAL CANDLE LANTERN ESTATE SALE CIRCA 30S 40S $10.00 Time Remaining: 2d 23h 17m |
 Untouched Nice Fancy Deco Chandelier Light Fixture from Columbus Estate Sale $149.95 Time Remaining: 20d 21h 31m Buy It Now for only: $149.95 |
 PAIR BLUE VASES 16 FROM PALM BEACH ESTATE SALE $245.00 Time Remaining: 20d 11h 21m Buy It Now for only: $245.00 |
 Grape jug with cork Estate sale find i havent seen anything like this before $0.99 Time Remaining: 3d 4h 22m |
 Vintage Tile Birds Morgonstund England Bird Estate Sale $15.00 Time Remaining: 1d 22h 7m Buy It Now for only: $15.00 |
 ESTATE SALE Silver Plated Statue of Retriever Priced to sell $475.00 Time Remaining: 12d 21h 13m Buy It Now for only: $475.00 |
 Golden Doe Gold Leaf Ceramic Porcelain Mid Century Estate Sale Fresh $4.95 Time Remaining: 3d 9h 47m |
 Antique 19 Century wood carving Black Forest nutcracker Bear Estate Sale FIND $499.99 Time Remaining: 26d 17h 17m Buy It Now for only: $499.99 |
 VINTAGE OLD AMSTERDAM PORCELAIN CREAMER AND SUGAR W LIDESTATE SALE GOOD COND $4.99 Time Remaining: 3d 16h 42m Buy It Now for only: $5.99 |
 VINTAGE MOHAWK R 4 LIQUEUR JUG ESTATE SALE $19.99 Time Remaining: 8d 15h 14m Buy It Now for only: $19.99 |
 Sweet Antique Dresden Germany Porcelain Lady Statue Estate Find Bargain Sale $95.95 Time Remaining: 21d 30m Buy It Now for only: $95.95 |
 Vintage Colorful Rooster Salt Pepper Set estate sale excellent condition 5Lg $14.99 Time Remaining: 3d 20h 12m |
 Pair of 1910 Austrian VasesBeautiful Estate Sale Find $30.00 Time Remaining: 24d 8h 56m Buy It Now for only: $30.00 |
 Dog and Fire hydrant Salt Pepper Set Estate Sale 2 1 4 Tall Nice Vintage $19.99 Time Remaining: 3d 20h 22m |
 Sweet Vintage English Royal Worcester Western Tanager 3650 Estate 49 Sale Now $83.50 Time Remaining: 13d 17h 55m Buy It Now for only: $83.50 |
 ESTATE SALE 12 Light Lily Lamp w Bronze Base $5,500.00 Time Remaining: 1d 19h 34m Buy It Now for only: $5,500.00 |
 VINTAGE VICTORIAN FIGURINE LADY AND GENTLEMAN WITH ROSE PORCELAIN ESTATE SALE $59.99 Time Remaining: 4d 17h 39m |
 VERY RARE ENGLISH BESWICK PHEASANTS 2078 675 172cm HYDE PARK ESTATE SALE $675.00 Time Remaining: 9d 15h 58m Buy It Now for only: $675.00 |
 ESTATE SALE Antique Porcelain Plaque Sailboat TakeLOOK $1,475.00 Time Remaining: 14d 20h 25m Buy It Now for only: $1,475.00 |
 VINTAGE CERAMIC FIGURINES ESTATE SALE MAN AND WOMAN HAND PAINTED $7.99 Time Remaining: 4d 17h 39m |
 RARE ANTIQUE LENOX CHARACTER FIGURE GREEN WREATH FROM VITO BELL ESTATE SALE $145.00 Time Remaining: 9d 15h 58m Buy It Now for only: $145.00 |
 VINTAGE CERAMIC FIGURINES ESTATE SALE YOUNG MAN AND YOUNG LADY HAND PAINTED $9.99 Time Remaining: 4d 17h 39m |
 MONUMENTAL 25 ANTIQUE ROYAL DUX GROUPING FROM A FINE HYDE PARK ESTATE SALE $395.00 Time Remaining: 21d 30m Buy It Now for only: $395.00 |
 Estate SALE Vintage clear pressed glass perfume bottle with stopper 3 $24.99 Time Remaining: 7d 15h 48m Buy It Now for only: $24.99 |
 7 INCH GOLD TRIM ESTATE SALE PLATE VERY NICE $0.99 Time Remaining: 5d 21h 1m Buy It Now for only: $7.00 |
 SWEET ANTIQUE AUSTRIAN STELLMACHER VASE 341 FAIRFIELD ESTATE PIECE SALE PRICED $55.00 Time Remaining: 13d 17h 55m Buy It Now for only: $55.00 |
 ESTATE SALE FIND ANTIQUE ART DECO FLOWERING TABLE LAMP $70.00 Time Remaining: 20d 4h 25m Buy It Now for only: $70.00 |
 Goebel Hummel 374 Lost Sock boy Estate Sale $9.99 Time Remaining: 6d 13h 35m |
 Hand Carved Wood Bowl Fish Design Estate Sale Item $42.00 Time Remaining: 8d 12h 25m Buy It Now for only: $42.00 |
 Vintage Antique Small 2x3 Picture Frame Mirror Estate Sale Find $3.00 (1 Bid) Time Remaining: 6d 14h 25m |
 LARGE PAIR OF ANTIQUE STAMPED BRASS CANDLESTICKS 13 HYDE PARK ESTATE FIND SALE $72.00 Time Remaining: 21d 30m Buy It Now for only: $72.00 |
 Fine Antique Unmarked Royal Bayreuth Nappy Nut Dish from Cincinnati Estate Sale $25.95 Time Remaining: 21d 29m Buy It Now for only: $25.95 |
 NICE HARVEST HAND PAINTED WOOD BOWL NO RESERVE ESTATE SALE FIND $9.95 Time Remaining: 6d 23h 37m |
 VINTAGE ANTIQUE table lamp brass marble base glass accents ESTATE SALE FIND $59.95 Time Remaining: 27d 23h Buy It Now for only: $59.95 |
Estate Sale
Tax on Real Estate Sales in Canada Accountant Mississauga
Tax on Real Estate Sales in Canada
If you own a rental property or a real estate investment in Canada, and have sold or are thinking of selling, then it is very important that you read this article because it provides helpful tax tips that can save you $$$ thousands.
Paying Capital Gains Tax – Tax on Real Estate Sales in Canada
When you sell an investment property in Canada you are required to pay capital gains tax on the real estate sale in Canada. ‘Capital Gains Tax’ simply means that only half of the profit (i.e. gain) on the sale of your real estate investment in Canada will be taxable.
For example, if the profit (gain) is $100,000 on a real estate sale in Canada, then only half of the gain ($50,000) would be taxable at your marginal tax rate.
Profit on the Sale of Real Estate Investments – Tax on Real Estate Sales in Canada
How do you calculate the profit on real estate sales in Canada? It is a very simple formula: Net Sales Proceeds minus the Cost = Profit (Gain).
The Net Sales Proceeds is equal to the selling price less legal fees paid to your lawyer and commissions paid to your realtor.
The Cost is computed as the original purchase price, which should be shown on your purchase and sale agreement when you first bought the property, plus land transfer tax, legal fees paid and the cost of any improvements made to the property.
What are Improvements? – Tax on Real Estate Sales in Canada
When calculating the tax on real estate sales in Canada, you should consider improvements. Improvements increase the cost of your property and therefore reduce the gain and tax on sale.
Improvements (also know as capital expenditures) are something that better the quality of the property or extend the property’s life. For example, if you replaced the windows on your property, then that is an improvement because it has extended the life of your property. Windows usually last 10 to 20 years.
Another example of an improvement would be replacing your old gas furnace with a high energy efficient furnace. That improves the quality of your property and therefore it is an improvement.
Repairs are not improvements and they would not increase the cost of your property for tax purposes. Repairs include fixing a leaky faucet or repairing a squeaky floor board. Repairs are tax deductible as a current expense on your tax return.
Capital Cost Allowance – Tax on Real Estate Sales in Canada
When calculating tax on real estate sales in Canada you must factor in depreciation, also known as Capital Cost Allowance. Depreciation represents the wear-and-tear on your property and is tax deductible.
When selling real estate in Canada, the Capital Cost Allowance that you claim in the prior taxation years must be included in your taxable income in the year of the sale. This is known as Recapture. For example, if you claimed $100,000 of Capital Cost Allowance in prior taxation years, then $100,000 of previously claimed Capital Cost Allowance will be included in your taxable income in the year of sale.
Remember that when you sell a real estate property in Canada, the sale must be reported on your personal tax return, including the Capital Gain realized and Recapture. Since the taxation on the sale of rental properties and real estate investments can be complex, I encourage you to engage the services of a Chartered Accountant in Mississauga / Toronto.
About the Author
Allan Madan is a Chartered Accountant and a Tax Expert in the Toronto, Mississauga and Oakville regions of Ontario, Canada.
If you found this article useful, Allan Madan encourages you to visit his website
http://madanca.com
for additional tax tips and more information on this topic. You can also call Allan Madan at 905-268-0150.
Watch to video at
http://madanca.com/blog/tax-on-real-estate-sales-in-canada/
I bought property with a vintage muscle car in a fallen building . Third party estate sale . Need a title Help?
I bought some property from a third party estate sale . There was a vintage muscle car in a fallen shed . The owner is long deceased . How do I get a title , or can I ?
It depends on the state you reside in. The title company suggested by another cannot help in all states. Contact the DMV and ask them about the procedure to obtain a legal title. Good luck
Cheryl Wheeler - Estate Sale