Disability

Total 80 Posts

Getting Around Town

Notice any dings or dents on the car? What happens when someone can no longer drive? Transportation is a major issue for seniors. Losing one’s drivers license triggers many emotions- especially loss of independence. ‘Giving up the keys’ is a common discussion in many households and most often when adult children have concerns about their parent’s driving habit….

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Disability, Elder Law, Geriatric Care Management

Principal residence exemption – renting to a child

The Canada Revenue Agency (CRA) was asked if a taxpayer’s property designated as his “principal residence” but rented and lived in by his son continued to qualify as his “principal residence” for the purpose of claiming a principal residence exemption to shelter a gain from personal tax.
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Canada Revenue Agency, Cottage, Disability, Elder Care, Estate Administration, Estate Planning, Executors, Real Estate, Tax Issues

Principal Residence – Duplex or Intergenerational House

The Canada Revenue Agency (CRA) was asked if a duplex occupied by a taxpayer and her aging parent could be treated as the daughter’s taxpayer “principal residence” for the purpose of claiming the principal residence exemption from the capital realized on the sale of the duplex at a later date.
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Canada Revenue Agency, Dependant Support, Disability, Elder Care, Estate Planning, Joint Tenancy, Property, Real Estate, Tax Issues
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