(Reuters) - Canada on Sunday announced a two-year extension to a ban on foreign ownership of Canadian housing, saying the step was aimed at addressing worries about Canadians being priced out of housing markets in cities and towns across the country.
Canada is facing a housing affordability crisis, which has been blamed on an increase in migrants and international students, fueling demand for homes just as rising costs have slowed construction.
It’s how you report the income. A corporation pays corporate tax rate on profit. An individual pays income tax. If someone wants to pay the individual income tax on 100 properties, that’s awesome. 33% over 250k. Corporate tax rate can easily be half of that.
Plus filing your taxes is waaaaaay easier having a corp hold all the assets and generating revenue, and the individual as an employee who draws a salary. If you’re just an individual with 100 properties and you get audited, you’re in for a bumpy ride trying to pick apart personal vs rental purchases