Given that the cottage market currently has it's teeth kicked out, it's not a horrendous time to trigger deemed disposition. If you own it, that also allows you to use the renovation to increase your cost base and lower future taxes.It’s a great idea but the problem is parents that aren’t clear with their plans.
One month - they’re selling
Next month - they’re keeping
Next month - they’re selling
Next month - they’re keeping
And on and on and on.
I’m not putting any money into it unless a plan forward is created and confirmed. Because putting in money now, only to have them change their mind later…
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