What are Capital Gains

 What are Capital Gains?

Ahhhh, good old Capital Gains. Hello everyone, Brad Sinclair here from the Brad Sinclair Team at Royal Heritage.

Today's topic, What is Capital Gains? Capital Gains is a tax you pay when you sell a secondary property for more than you paid for it, less any legitimate expenses associated with its sale

Side note. Before we go any further, to be clear, Capital Gains
does not get collected on the sale of your principal residence……For now.

How much will you pay in capital gains? That question is best to be answered by your accountant, not your realtor. That said, I will give you a rough calculation for “understanding” purposes here in this video.

Ok, On a capital gain of one hundred thousand dollars ($100,000), you will be tax on 50% of the profit, which would be fifty thousand dollars($50,000). For a Canadian whose tax bracket is at 33% marginal tax bracket for example the gain would be sixteen thousand, five hundred dollars ($16500) of taxes owed. The remaining eighty three thousand, five hundred ($83,000) is the investors to keep.

If you want to get a better idea of what your capital gains tax looks like before you speak to your accountant, there are many capital gains calculators online that can provide some clarity.

There are a two certainties in life: death and taxes. As I said Capital Gains is the swear word in the world of real estate. The simple fact is you live in Canada, you make money off an asset, you will pay tax on it. Just the way it is!

Written for you by:

Your local Realtor®

If you are looking to either Buy or Sell contact me at

705-927-6236

Brad Sinclair, Sales Representative

Team Lead at The Brad Sinclair Team

Royal Heritage Realty

Your inside source for cottage country waterfront real estate

Silent Lake Provincial Park

 

Silent Lake Provincial Park

Silent Lake Provincial Park is a phenomenal place for endless outdoor activities all year round. With over 19km of hiking, 34 km of groomed trails for cross-country skiing, 17 km of mountain biking.  Silent Lake Provincial Park offers swimming/relaxing sandy beaches, canoeing, kayaking, and fishing. There are opportunities for camping in both the summer and winter months, you can rent a yurt for the most comfortable stay. Most of the campsites are drive-in, but if you are more adventurous there are also hike in campsites. Silent Lake Provincial Park occupies an area of 1,450 hectares (3,600 acres). The Park was first opened to the public in the summer of 1975. Silent Lake was a privately owned lake before it became a provincial park.

Silent Lake Provincial Park is located near beautiful Bancroft, Ontario, is north east of Peterborough, and is a 2 and half hr drive from Toronto. Offering a variety of trails with different levels of difficulty, there is something for everyone. The Park’s lakes are well known for its excellent fishing. There are a variety of fish that call Silent Lake home including Yellow Perch, Trout, Large and Smallmouth Bass and sunfish. Just remember there are no motorized boats allowed so fishing from shore, canoe, or kayak are only permitted.  Certain Park waterbodies may be closed to fishing temporarily or permanently for fisheries research or management purposes. Wherever possible, fisheries management within the park will seek to maintain and enhance native, self-sustaining fish populations.

 

Silent Lake Provincial Park is home to a variety of wildlife species made up of birds such as Northern Flicker, Barred Owl, Loon, and Black-capped Chickadee. Some Reptiles and amphibians that can be found are Spring Peeper, Green Frog, and Garter snake. Common mammals that can be observed include North American Porcupine, Beaver, American Red Squirrel, Northern Short-tailed Shrew, White Tail Deer, and snowshoe hare. There are also variety of moths, butterflies, and insects that can be observed in the spring, summer, and early fall.  

Brad Sinclair

Team Lead “The Brad Sinclair Team”

Sales Representative

Royal Heritage Realty, Brokerage

Visit my website! www.bradsinclair.ca

Call Or Text me 705-927-6236

Your Cottage Country Inside Source

Waterfront-Commercial-R.E. -Investing

Kawartha Highlands provincial park

 

Kawartha Highlands Provincial Park is a memorable place with many opportunities to experience the outdoors ranging from backcountry canoeing and camping to a short hike. Kawartha Highlands Provincial Park is open all year long, for exciting adventures in any season. Visitors can enjoy shorter hikes, fishing, birdwatching and other nature-based activities. Kawartha Highlands Provincial Park is a relatively new park (it was designated as a provincial park in 2005 and became operational in 2011). Kawartha Highlands Provincial Park is the second largest park in southern Ontario next to Algonquin provincial park. Kawartha Highlands Provincial Park offers an alternative to avoid the crowded, and often difficult-to-book Algonquin Provincial Park. Kawartha Highlands presents all of the beauty with less of the frustration of Ontario’s most popular provincial park.

Kawartha Highlands Provincial Park spans four geographic townships of Cavendish, Harvey, Burleigh and Anstruther, in the northern half of Peterborough County. Situated along the southern edge of the Canadian Shield, this relatively undeveloped area encompasses over 35,000 hectares. Regional topography features a rugged rolling landscape of small lakes, wetlands, forests with wooded hills, rocky barrens, and deep valleys. Soils are generally shallow, with areas of exposed bedrock. There are over 500 private properties which are surrounded by Kawartha Highlands. The most significant cottage development occurs on Anstruther Lake, Wolf Lake, Loon Call Lake, and Long Lake. None of these properties are regulated as part of the park, and all are governed by municipal by-laws and other applicable legislation and regulations. As a natural environment park, Kawartha Highland's focus is the protection of its landscapes and natural surroundings however some acceptable wilderness activities include: Canoeing, Kayaking, Fishing/Ice fishing, Boating, Hunting, Snowmobiling, Camping (both in summer and winter), and Wildlife Viewing.

Kawartha Highlands Provincial Park is about two hours from the Toronto area and has very limited services compared to many provincial parks in Ontario. There is no official visitor’s center, if you plan on camping in Kawartha Highlands Provincial Park be prepared to canoe to one of the over 100 campsites within the park. Reservations are recommended to secure your campsite. There are six recommended Kawartha Highlands Provincial Park canoe loops. The loops range from easy to moderate in difficulty. In the fall, the maple trees beam with vibrant red colours and the poplars with vibrant yellows. For a unique view of the fall foliage, explore the area by water. You can also take a nice day walk along the park trails, or at portage points. 

The park’s lakes are home to a wide range of fish species, including Lake Trout, Rainbow Trout, Walleye, Small and Largemouth Bass, and panfish. Visitors are encouraged to try their luck on any of the 17 stocked trout lakes in the park. The park is also home to a variety of other animals made up of 176 bird species such as Osprey, Whip-Poor-Will, Common Nighthawk, Scarlet Tanager, and Eastern Towhee. About 37 mammal species such as Eastern Wolves, Coyote, Mink, Whitetail Deer, and Black Bear. There are about 29 species of reptiles and amphibians for example; the Spotted Salamander, Eastern Rat Snake, Northern Water Snake, Snapping Turtle, and Leopard frog.

Brad Sinclair

Team Lead “The Brad Sinclair Team”

Sales Representative

Royal Heritage Realty, Brokerage

Visit my website! www.bradsinclair.ca

Call Or Text me 705-927-6236

Your Cottage Country Inside Source

Waterfront-Commercial-R.E. -Investing

What is a Flood Plain and Shoreline Erosion?

What is a Flood Plain and Shoreline Erosion?

Do you know what a floodplain is? More importantly do you know what a floodplain is before you purchase a waterfront property? Well, if you don’t know, stay with me here for a minute.

My name is Brad Sinclair, and let me help you buy or sell your waterfront property. So what is a floodplain and why should you care?

Floodplains are the flat, barren or vegetated areas at the edge of lakes, streams and rivers. Floodplains are usually at or near the same elevation as for example the top of the river bank or the high water mark of a lake. Some flooding can be expected every year. All rivers, lakes and streams flood at one time or another. Usually flooding occurs during the spring run off or after an extreme rain fall.

Building on Flood Plains is now extremely restricted. No one wants to have their basement turn into a swimming pool every spring. But many older builds were built on flood plains, something your Realtor should warn you about before you purchase a waterfront property. You can assess the danger zone yourself by keeping an eye out for evidence of high water marks, past basement damage or the most obvious the central air conditioner on a four foot stand, don’t laugh, I have seen it!

In todays codes in Ontario there is a minimum distance, called a setback that a building now can be built from a lake or river. The setbacks are regulated by the local municipality but only have been enforced in the last 20 years or so.  Also, for septic tanks every municipality has guidelines on minimum setbacks and clearances for septic system absorption areas. Again, these are things you should be looking into before purchasing.

Floodplains are prone to shoreline erosion. To help prevent erosions from flooding, leave your shoreline as natural as possible. There is a natural price to pay if you want to remove vegetation or trees. Vegetation and trees are essential for maintaining the integrity of the shoreline and help stop erosion. I have seen limestone break walls used as a natural looking way to stop erosion. Just be sure before you start the work proper permits in place!

Brad Sinclair

Team Lead “The Brad Sinclair Team”

Sales Representative

Royal Heritage Realty, Brokerage

Visit my website! www.bradsinclair.ca

Call Or Text me 705-927-6236

Your Cottage Country Inside Source

Waterfront-Commercial-R.E. -Investing