When an investment property is transferred, it is subject to capital gains tax. A capital gain is the increase in the property value from when it was first purchased to when it was sold.

In addition, if the owner of a property decides to move into one of their rental units and use it as their primary residence, or move out of their primary residence and use it as a rental property, this is known as deemed disposition and there could be future tax liabilities. As a result, proper tax planning is essential to avoid unnecessary surprises and having a documented value of the property will assist you and your tax representatives.

Our team will provide a comprehensive appraisal that will help with tax planning and can be used to satisfy the requirements of the Canada Revenue Agency (CRA).