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9 years ago

Value of corporation used to buy property

9 years ago
We used a corporation to buy our condo several years ago when there were some tax advantages to do so, i.e. no transfer tax when selling the property. But I have read that a new law negates that tax advantage - is that true? Other than possible "liability" advantages, are there any other tax advantages with the property under a corporation? Are there any capital gains taxes on real estate sales? I am wondering if I should dissolve my corporation to save annual corporation taxes and legal upkeep fees, although there will be some costs to dissolve it.

I will likely set up an appointment with my lawyer to discuss this, but I was wondering if others have taken this step.

William Russell
William Russell

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William Russell
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