Unlike the United States and many other countries, Canada does not have an inheritance tax. The absence of this tax creates two arguments, one in support of introducing a tax and one against.

Those who support the implementation of an inheritance tax argue that not having one fuels inequality. According to economist David Macdonald of the Canadian Centre for Policy Alternatives, “A family’s stock of wealth can accumulate not just over a single lifetime but over generations, through inheritance, which further widens whatever income gaps may have existed on an annual basis.” They essentially believe it enables the rich to get richer instead of putting the money back into the economy.

In contrast, those who argue against an inheritance tax say that not having one encourages investments, stimulates the economy, and boosts wages and government revenues over the long term. They believe an inheritance tax is counterproductive to reducing wealth inequality.

Real estate investors who are working to build a nest egg to pass onto their families via an inheritance should pay close attention to this ongoing debate. Having a support team that includes an accountant is a great way to ensure you are informed and can make the best possible decisions for your business. Regardless of your stance, it is important to stay active in politics and be aware of changes to the tax code that could impact your real estate holdings.

Perhaps even more pressing for real estate investors, there is a call from the Canadian Centre for Policy Alternatives for the elimination of the 50% tax break on capital gains, which impacts flip and fix investors and long-term holders of real estate when they sell.

To read the original article, click here.

We have said all along that the BiB program is not a course. It is not something to complete. It is a partnership and one that we hope will be a long-standing one.

To better support you in this journey and have your business be as successful as it can be we have migrated all training and resources from the Learning Portal to this Resources Portal. The intention is to have all resources available to you as and when you need them. Not have you have to progress through a course in linear fashion. Your business is not linear! Need a shot of Sales training – get it! Need to revisit a JG marketing session – it’s here.

This is going to be your place for all things BIB – News, Announcements, Events, changes, celebrations etc. this is where you will find it and we hope you will engage and provide us any thoughts/input you that you have.

Continue to check back as we continue to add resources and content to your LEGACY Resource Portal

Attention all REIA’s

Membership has its privileges! Here is an opportunity to provide some added value to your clients or potential clients. We are authorizing you to provide the coupon code “PERFORMANCE” to people in your network to receive $100 off the regular ticket price. You want the people you are working with to be working with this mindset and speaking the same language. Its good for your business to have them there. Oh and by the way – if you haven’t registered yourself get on it!

This clinic is going to be phenomenal!

On September 5 & 6, earn your certificate in performance at a world premiere two-day Performance Clinic summit in Vaughan, Ontario – Performance 101 and Performance Prowess. This dual workshop will give you essential access to new levels of success as well as the required social context to amplify your performance. It’s a must-attend for entrepreneurs, business owners, professional investors, coaches:  life, athletic and executive; and wellness professionals: nutritionists, dietitians, yoga and pilates instructors.

For anyone pursuing results and chasing success, this workshop is for you. Whether it is in a business setting, the financial world or in your personal life, performance is always at play. This workshop is about taking on, learning and mastering the power of producing performance. It will teach you an action-based, results-oriented approach, allowing for superior performance in all areas of your life.

Thanks to everyone that attended and participated (with awesome questions I might add) the Marketing Q & A with JG on the 15th of Aug.

If you missed it or want to watch it again here is the replay video.

This will also be posted in the Marketing section of the Training Modules

 

Adversity can strike at any time. Whether it is emotionally, physically, financially or intellectually, adverse events don’t schedule themselves into our lives. They don’t knock on the door and ask us if we’re ready to have our world turned upside down, politely turning away when we say “no thanks”. While we may not want to think about it, the reality is that bad things do happen. Although we aren’t able to predict the future, we can prepare for it to help shield ourselves from the impact of life’s hardships.

What Could Go Wrong is a must-read for real estate investors that will help them disaster-proof their lives. Based on extensive research, this set of statements on the adverse events that can measurably and calculably happen in your life will enable you to prepare you for the worst. It discusses events that commonly go wrong for real estate investors and will equip you with the understanding you need to embrace and await adversity, as well as the ability to equip others with the same insight and preparedness.

Although some things are out of our control, having a plan isn’t. By being unprepared, you are setting yourself up to fail. What Could Go Wrong covers everything from assessing your financial fitness to ensuring you have the proper insurance. Developing a plan will allow you to respond promptly and optimally to hardships, mitigating their negative effect on your life and possibly even eliminating some adversities before they occur.

To receive a PDF of What Could Go Wrong and start disaster-proofing your life today, click here.

 

The future of real estate is here.

In partnership with RESAAS Services Inc., REIN is thrilled to announce we are developing an app that will allow real estate investors to discover and share real estate investment properties within the REIN network.

With the increasing demand for not only real estate information but real estate intelligence, the common methods for finding properties are becoming increasingly irrelevant. With our app, slated for release in late 2018, you will have direct and convenient access to a network of investors and property listings on any mobile device. The app will present in 22 languages and opportunities are expressed in over 45 currencies.

The real estate world is evolving to the point that technology is a necessary part of doing business efficiently. (Anthony Donaghue’s Born2Invest article – “Is technology replacing real estate agents?” – is worth a read!) RESAAS is a cloud-based and blockchain technology platform that enables real estate brokerages, franchises and associations to bring real-time communication, new business opportunities and unique data to their agents on a global basis, making it a perfect partner for our app. We are excited to be utilizing RESAAS technology to give you more power over your own portfolio.

As technology continues to advance, we want to be on the cutting edge of change and are looking forward to sharing this new platform with you.

Real estate entrepreurs are under attack from all sides – yet THEY have provided the rental market supply, while the big players have focused on condo buildings to fill the sales demand.

In fact, it seems that the narrative that surrounds the terms ‘real estate investor’ and ‘entrepreneur’ in Canada has been changed from ‘thank goodness we have them’ to ‘they are the problem in this world.’  And that has happened so quickly, in less than a year, that it has people’s heads spinning.

Spinning because these independent investors and entrepreneurs decided to grab control of their family’s lives, their finances, their retirement plans. They decided that taking personal responsibility for their lives. They have educated themselves, taken risks, won some battles and lost others.

Many, if not most, didn’t have the goal to get ultra-rich, their goals were more modest such as paying for their children’s University, helping their aging parents live a comfortable life, travelling to experience the world, giving their families a financial foundation they never had.

But suddenly these modest goals have been re-positioned in the government hallways, and some media outlets, as being greedy,  as be un-Canadian as being wrong.

Let me state, right here and now, that taking responsibility for your own financial futre is NOT wrong. It never has been and never should be. We should be celebrating those who are brave enough to take chances, who get through the sleepless nights, who work those 18 hour days, day after day (with no overtime pay), who raise money for their favorite charity because the want to, not because it is mandated at their work place.  The path they chose can be a dark and lonely path. A journey that some begin but never finish; a journey that is not for everyone.  A journey that is fraught with potholes and unforeseen twists and turns.

The Inevitable Twists & Turns

Some of the more recent unforeseen twists and turns have come from dramatic changes in government policies and government pronouncements.  Some of which are a direct attack on these entrepreneurs. Whether it be provincial rule changes on rental properties or federal rules on taxation some of which contradict and counteract each other. Or tightening of rules on rental property financing.

And that is why, at the Real Estate Investment Network, we have celebrated and supported real estate and business entrepreneurs for the last 26 years.  It is also why we continue to evolve as a company we shift ahead of the markets. We introduced a finance center long before it became publicly obvious that the finance rules were going to change (nice having insider information). And there are many more evolutions ahead for REIN and its members.  Let us celebrate the independent spirits along their journey. They have taken control of their future and we will continue to evolve to support them in this important journey of ‘taking responsibility.’

Celebrations are not about Fireworks & Trophies

When I say celebrate I mean much more than public celebrations. Celebrations occur in the private consulting calls we have with members as they share their fears, their accomplishments, their excitement and their mistakes.

Celebrations are had when Members share the stories of their journeys to help others find the motivation to push through.

Celebrations  are had when new knowledge, new research, new strategies are released that, even with a small and simple adjustment, helps the Member move forward.

And sometime celebrations are had just because one had an understanding and experienced Member willing to listen, when others wouldn’t.

I Define Celebration as Supporting

It looks like these small celebrations are going to be needed now more than ever.   CMHC’s recent survey discovered that almost 50% of rental properties in Canada are held by independent investors.  That is a remarkable positive impact these entrepreneurs and risk takers have been having on the Canadian economy.  Remove those 50% and you would have a rental crisis that would ripple from the streets of every city all the way to the halls of Parliament.

The government policy makers may not celebrate this important fact as they change the rules of the game, but we at REIN sure do.  And THAT is why we must celebrate the independent ‘real estate investors’ and ‘entrepreneurs’ across this country.  They have modest financial dreams, they have taken responsibility for their lives, they are providing much needed housing across this country.

THEY are the true responsible leaders right now. Let us help them continue to lead!

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