Comments on: Vacation Condos get really expensive.

By: DEFAULT NAME

DEFAULT NAME — Fri, 15 Sep 2006 19:59:00 +0000

The poets cove example floored me - $1,100 a month in taxes and strata fees for a place you can only stay in 4 months of the year?! Naturally there is an uproar over this classification shift:
...............
12 weeks = 3 months of the year
hmmm that's onerous

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By: bcubbins

bcubbins — Fri, 15 Sep 2006 08:44:00 +0000

"$1,100 a month in taxes and strata fees for a place you can only stay in 4 months of the year?!"

Actually it's only 12 weeks a year. $1100 per week of use... good thing for double-digit price increases!!!!!! right??

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By: DEFAULT NAME

DEFAULT NAME — Thu, 14 Sep 2006 23:45:00 +0000

heh ... funny.
reminded me of something I read a long, LONG time ago(70s maybe) regarding the US IRS and some tax regulation or other.

"If you look like a farmer, talk like a farmer, and especially if you SMELL like a farmer ... "

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By: bc_cele

bc_cele — Thu, 14 Sep 2006 05:43:00 +0000

As an accountant in my former life I can't tell you how many times I warned clients that if it looks to good to be true then it probably is. CCRA is not your friend (or in this case a provincial authority) and there are too many accountants and lawyers out there that are willing to play fast and free with things.

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By: thestreet

thestreet — Thu, 14 Sep 2006 00:15:00 +0000

This has got to really hurt the resale market for these condos, I wonder if BC assesment is going to get aggressive with reclassifying all these types of property.

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