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Strata insurance deductible
... a pre-sale high rise apartment unit in Burnaby BC years ago and finally it is completed. My insurance agent told me that the strata insurance deductible is $100,000. She said this is the highest deductible amount she ever heard. Would like to know is it a reasonable amount? Anyone has experience ...
- tofubb
- Jan 6th, 2023 12:17 am
- Forum: Real Estate
- Real Estate
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Jan 6th, 2023 12:17 am
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Rental income and taxes: What if you have a mortgage? Is that deductible if its presently all going to interest?
Say your mortgage is $2000/month and your rental income is $3000/month. Does CRA look at $36,000 annually as your rental income (minus typical expenses) or would they look at $1000 (profit each month) x 12 or $12000 as your rental income if your mortgage now and for a while is going just to pay inte...
- MichaelZZZ
- Nov 27th, 2022 12:40 pm
- Forum: Personal Finance
- Personal Finance
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Nov 27th, 2022 12:40 pm
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Something fell off a truck and damaged my car. Driver charged and I have to pay the deductible
... car (which is true). That means it falls under comprehensive and it is treated no differently than if a tree branch caused the damage. So, $300 deductible is to be paid by the family member, not the driver of the truck. This seems goofy to me: somebody admits fault and has been charged. Further, ...
- CaptSmethwick
- Nov 16th, 2022 5:11 pm
- Forum: Automotive
- Automotive
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Nov 16th, 2022 5:11 pm
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Possibly leased write-off with Removing Depreciation Deductible
... has gap insurance through Mercedes, and still has about 10 months left on the lease, however I also pay extra premiums for Removing Depreciation Deductible (lessee). I originally put a $7500 down payment on the lease. I'm aware that if I were the owner of the car, I'd get The most we will pay ...
- shayaanpoints
- Aug 15th, 2022 8:26 am
- Forum: Automotive
- Automotive
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Aug 15th, 2022 8:26 am
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Looking to rent a 12 seater van (e.g. Ford Transit), is insurance deductible usually that high?? ($2000+) - Ontario
... for renting a high capacity van from within the GTA to take on a road trip for a few days and noticed while insurance is only $30-40 a day, the deductible is insanely high ($2500). I was wondering if anyone had rented these type of vans before and could comment or provide any recommendations. ...
- Lovable
- Mar 16th, 2022 11:01 pm
- Forum: Automotive
- Automotive
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Mar 16th, 2022 11:01 pm
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Interest deductible for HELOC used for an income property to be converted to an SDU
Hi, I've just used a HELOC to close on a property and going to use the same HELOC for building a legal SDU. If I rent it out only for a month or a couple of months at the end of the year when the work is completed, what happens with the HELOC interest? I read about soft costs and my understanding I ...
- vitlen
- May 15th, 2021 4:59 pm
- Forum: Real Estate
- Real Estate
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May 15th, 2021 4:59 pm
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How about to use HELOC to pay rental property tax? Is the interest deductible from rental income??
How about to use HELOC to pay rental property tax? Is the interest deductible from rental income?And Will the interest of borrowed money from HELOC change as Prime changes each time?If so, is there a way to lock the borrow money to a term?Thanks,
- lhq2100
- Apr 29th, 2021 12:15 pm
- Forum: Personal Finance
- Personal Finance
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Apr 29th, 2021 12:15 pm
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Condo insurance for high deductible
I live in BC and our building deductible for water damage, sewer backup, sprinkler discharge, etc is up to 400k. Does anyone know of insurance providers that would cover this amount? I'm currently with SquareOne but they only go up to 350k. ...
- Chilly604
- Apr 2nd, 2021 5:58 pm
- Forum: Real Estate
- Real Estate
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Apr 2nd, 2021 5:58 pm
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[ON] New car owners - How much deductible did you chose for Comprehensive and Collision coverage?
... on the car, rust on doors, console latch broken, sagging front bumper, dented from 2 places etc etc.) but with this new car I am not sure how much deductible should I opt. I was paying $111 for Honda Civic. I am getting $163/month quote for Ford Escape with same coverage as Honda Civic (plus 1000$ ...
- mr2711
- Mar 28th, 2021 7:15 pm
- Forum: Automotive
- Automotive
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Mar 28th, 2021 7:15 pm
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Is Strata fee tax deductible
I rented out my apartment and I pay a monthly fee of 3.xx. I just want to know if this fee is tax deductible? The CRA website is pretty vague and confusing.
- craigslist123
- Mar 12th, 2021 11:42 pm
- Forum: Real Estate
- Real Estate
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Mar 12th, 2021 11:42 pm
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BT used for invest: Credit card balance transfer fee deductible for tax?
Newbie to BT. Have a question about tax.If I use the BT to invest in stocks, can I somehow deduct the BT fee from tax?Would it be "Line 22100 - Carrying charges and interest expenses" or something else?Thanks.
- dijkstrabfs3
- Feb 21st, 2021 5:27 pm
- Forum: Investing
- Investing
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Feb 21st, 2021 5:27 pm
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Personal Insurance to Cover Strata Insurances Deductible (Vancouver)
Hi I have a friend and today he learned that one of his strata insurances deductibles (water damage) insurance is going up to 250K deductible. I have heard many times in the news that after 100K it is very hard and very expensive to get coverage. In my talks ...
- jimbob12341
- Oct 16th, 2020 8:36 pm
- Forum: Real Estate
- Real Estate
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Oct 16th, 2020 8:36 pm
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Need suggestion: CAA increased by deductible despite no at-fault claim
... there have been couple of claims but none of them at-fault on my end. I got my insurance renewal policy and this time they bumped up my collision deductible from $200 to $500 and the reason being "due to claims activity on this policy". Any insurance expert who can throw light here on ...
- perfectcritic
- Aug 7th, 2020 4:29 pm
- Forum: Automotive
- Automotive
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Aug 7th, 2020 4:29 pm
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$500 deductible question
... towed my dad's car to a local auto repair shop (this guy probably gets $$ off a referral). It was determined by insurance that there would be no deductible on our end as the other driver made a left signal at an intersection without making sure the lane was clear so he was not at fault. My dad's ...
- crayola1
- Mar 4th, 2020 7:57 pm
- Forum: Automotive
- Automotive
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Mar 4th, 2020 7:57 pm
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Heloc interest tax deductible condo
Hi so i have some questions regarding tax deductions. I have a heloc which i have used 50k for investment of condo bought last year. The interest I am paying for the loan how and when is interest covered. The bldg will be complated around 2021. So right now i pay interest. When i do my tax can i wri...
- liquidsuite
- Oct 20th, 2019 6:14 pm
- Forum: Real Estate
- Real Estate
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Oct 20th, 2019 6:14 pm
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Interest deductible for HELOC used for precon property?
I'm getting some conflicting answers. For those whom have done it, is the interest tax deductible from a HELOC that is used for a deposit for a preconstruction property? If so, how do you designate it as such on your tax return?Thanks!
- hank755
- Oct 14th, 2019 10:46 pm
- Forum: Real Estate
- Real Estate
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Oct 14th, 2019 10:46 pm
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Hit & Run, Insurance Deductible
... no drivers license. Insurance told my friend, even though police recorded plate & ownership papers of the alleged, my friend might have to pay deductible, if the owner of the other car claims their car was stolen &/or they're unable to determine who was driving the other car. Turns out ...
- HP_John
- Oct 2nd, 2019 11:32 am
- Forum: Automotive
- Automotive
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Oct 2nd, 2019 11:32 am
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Minimum $5000 deductible to insure a Lexus RX with Belair in Ontario?
... to get a newer model SUV and asked my current insurer Belair about the the RX350/L and they mentioned FSCO needs them to have a minimum $5000 deductible for the RX line. Not sure if it’s because I am in Markham and there are tons of these that probably get into accidents or stolen? for it ...
- BoredAtWork
- Jun 21st, 2019 6:43 pm
- Forum: Automotive
- Automotive
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Jun 21st, 2019 6:43 pm
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Is an AED (Automated External Defibrillator) Tax Deductible as a health expense by the CRA?
... $1400+HST... Despite the saying "You can't put a price on health", I am in need of putting a price on it :) Is an AED accepted to be tax deductible by CRA as a health expense (or other)? I could not find a good answer online, so thought the tax experts on RFD may have an opinion. If it ...
- andrewcanada1984
- Jun 18th, 2019 11:52 am
- Forum: Personal Finance
- Personal Finance
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Jun 18th, 2019 11:52 am
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Q: Tax return for deductible medical expense
Hi there! When I calculate the credit for medical expense I found that it must be a 12-month period that ends in the tax year e.g. from Sep 1 2017 to Aug 31 2018. If I paid for my personal health insurance valid from Sep 1 2017 to Aug 31 2018 and I paid 100% by myself for the medical bill on Sep 10 ...
- LegendDaniel
- Apr 13th, 2019 3:09 pm
- Forum: Personal Finance
- Personal Finance
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Apr 13th, 2019 3:09 pm