Presentation: Do you own more than one home?

To make it easier for you to prepare materials for clients, we’ve developed this text for a slideshow on the topic of ways to minimize tax when clients own more than one home (based on an article by Jacqueline Power). We know you’ll want to customize them and add elements specific to your client, so we’re providing a Word file to make that easier (there is no PowerPoint). All you need to do is fill in your own details and then move the slides into your favourite presentation software or app.

Here’s an example of the first 5 slides. Download the word file to see the rest.

Enjoy, and we hope this offering helps enhance your client meetings.

SLIDE 1

Do you own more than one home?

SLIDE 2

The Principal Residence Exemption (PRE) could save you thousands in taxes.

SLIDE 3

Tax rules say a family (spouses and any children under age 18) can designate one property per year as its principal residence.

The PRE lets you claim a capital gain exemption for some or all years you lived in the home.

SLIDE 4

PRE applies to the building and up to one-half hectare (1.2 acres) of subjacent and adjacent land.

If there’s more land, you have to prove it’s necessary for the use and enjoyment of the property.

SLIDE 5

PRE can apply to any property you or your family inhabit during the year, as long as it’s not primarily used to earn income.