Edmonton Real Estate Investor: taxes

I'm pretty benevolent about taxes. I think they are inescapable and thus should be borne as well as possible. Taxes rise on properties because property values rise.

"Homeowners will be hit with a property tax hike of nearly 7% this year, after the increase was approved yesterday by city council."

"That's huge, huge dollars," said Scott Hennig of the Canadian Taxpayers Federation."

Edmonton Sun

People tend to react to taxes negatively but I use them as a marker of how well I am doing financially. The more I am paying the more I must be earning/making. Don't get me wrong I don't love taxes but I understand their role in my financial house.

Like Kiyosaki says "Tax Avoidance not Tax Evasion". Pay your taxes smartly get the best accountant you can find who is suited to your individual needs. We have had 3 accountantss over the last 7 years as our company grew and changed focus.

Property values went up 52% last year, of course the government wants a piece of that!

Just stay home and buy the DVD.

The mayors of both Edmonton and Calgary, the Alberta Urban Municipalites Association and the Alberta Association of Municipal Districts and Counties have put forth a report with a list of new and unusual taxes.

"Not only have the big city mayors dreamed up a horde of new taxes - including their own oil and gas royalties (they call it "raising the necessary revenues from resource utilizers") - they want the Tories to set up "formalized regional agencies," that will have the power to "address cost and revenue sharing issues."

"Already on the list is a concert and hockey ticket tax, a hotel tax, a vehicle registration surcharge, jacked up development levies and charging resource firms "economic rent."....."
Neil Waugh Edmonton Sun

The thing that makes Alberta special is that it is doesn't follow other provinces. Low taxes, leaders who fostered entrepreneurism and not following the rest of Canada is what has made the province the world model it is today. Now is not the time to change that.

“In the last 12 months Edmonton real estate has appreciated over 52%”
-Royal LePage, Canada.

And with over $100 Billion dollars invested into Alberta and the strong demand for jobs and housing, you will continue to see real estate prices increasing, well into the future due to this sustainable, fundamentally sound economy.

Example: 12 months ago an average Edmonton condo sold for $132,000, now the same condo sells for $200,640.00, an increase of 52%. If you had purchased that condo with a 25% down payment of $33,000, factored in closing costs and additional expenses at say $7,000, your profit (excluding taxes and realtor fees to sell) would be about $61,640.00 or $169.00 per day. An ROI of 187%.

Now, imagine if you had a tenant paying down your mortgage for you.....