Income Tax Consequences of Purchasing Real Estate Investment Property

With the chance of values we have experienced in the Vancouver Real Estate market, especially in Downtown condominium project; many people who have purchased Pre-Sales are now completing their purchases at significantly higher prices than the property would be worth if they were negotiate a deal today. As long as you don’t live in the property, you are purchasing an investment. Some investments go up and some go down. I think we are all pretty familiar with investments that go down these days. If you turned around and sold a property today, you would probably do so at a loss.

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