The Tax Benefits Of Real Estate Investing
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Please be aware that CRA is working with changing the laws to track off shore investments. Remember, a personal exemption of $3650 isn't deducted on tax but on your taxable income. Say for example your filing status is 'married filing jointly' with original taxable income of $100,000. This allows you to under the marginal tax rate of 25%. Therefore the money you'll save on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For every one in a spouse, which is to be multiplied by two and save $1825.
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