Comments on: Transferring the Cottage to the Next Generation http://1800hart.com/blog/2007/08/transferring-the-cottage-to-the-next-generation/ HART's mind works in mysterious ways .. someone should take advantage of that Sun, 29 Apr 2012 13:54:06 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: HART (1-800-HART) http://1800hart.com/blog/2007/08/transferring-the-cottage-to-the-next-generation/comment-page-1/#comment-20571 HART (1-800-HART) Fri, 31 Aug 2007 13:58:36 +0000 http://1800HART.com/blog/2007/08/transferring-the-cottage-to-the-next-generation/#comment-20571 Thanks Neil for that point. As I mentioned above, it is an interesting article .. but as you say, may not be as practical. PS I updated the article to include your link to give you some google juice .. as, I believe the no-follow rule in my comments is in play.. :) Hope you had a great summer! Thanks Neil for that point. As I mentioned above, it is an interesting article .. but as you say, may not be as practical.

PS I updated the article to include your link to give you some google juice .. as, I believe the no-follow rule in my comments is in play.. :)

Hope you had a great summer!

]]> By: Neil McIntyre http://1800hart.com/blog/2007/08/transferring-the-cottage-to-the-next-generation/comment-page-1/#comment-20570 Neil McIntyre Fri, 31 Aug 2007 13:35:10 +0000 http://1800HART.com/blog/2007/08/transferring-the-cottage-to-the-next-generation/#comment-20570 Interesting, but then you'd be giving up the principal residence exemption on your actual principal residence. It all boils down to which property is appreciating faster. It may not be the same everywhere, but I would guess if you own a house in Toronto and a cottage in Muskoka, the house is going up in value faster. <a href="http://neilmcintyre.ca/index.php/2007/06/12/8-quick-facts-about-the-principal-residence-exemption/" rel="nofollow">Optimizing the exemption</a> based on the average gain per year of ownership per property is key. Interesting, but then you’d be giving up the principal residence exemption on your actual principal residence. It all boils down to which property is appreciating faster. It may not be the same everywhere, but I would guess if you own a house in Toronto and a cottage in Muskoka, the house is going up in value faster. Optimizing the exemption based on the average gain per year of ownership per property is key.

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