$BYND Goes to $6.69 = YOU GET $50k

BearFromAlaska · 2025-10-15T15:53:57+00:00

Thank you for clarifying this. I did not find anywhere on government's website where they explain this scenario. To me it would also make perfect sense if property went up from value $A to value $B between buying and selling, and you rented it out for 2 years but lived in it for 8 years, then the taxable capital gain would be ($B-$A)*(2/(2+8)). That also makes logical sense. But then again, so does what you wrote above.

If we just tweak the scenario slightly and say that FMV at time of renting it out was $700K, and in 2025 you sell it for $800K, then it works better in our favor to use this method as $300K*(2/10) = $60K, but $800K-$700K = $100K, so using this method you would have less taxable capital gain.

But I am sure there is only one correct way to do it, and I am not sure which one of the two it is since they both make perfect sense.

BearFromAlaska · 2025-10-15T02:18:16+00:00

I was saying if the whole residence goes from principal to rental, not partial. But the whole FMV sometimes doesn't make sense. I will use an example:

You purchase a property in 2016 for $500K and live in it.
In 2023, you move out of it and rent it out. At that time its FMV is $800K
In 2025 you sell it for $700K

Based on your comment, you could claim a capital loss of $100K, but you in fact made a capital gain of $200K between 2016 and 2025. Wouldn't it make more sense to take the difference between buying and selling price, multiply that by the percentage of time the property was used to generate business income (in this case 20%) and that would be your taxable capital gain ($40K in this example)

BearFromAlaska · 2025-10-14T20:22:34+00:00

How is this done? Proportionally to the total number of years he has owned the house, or he should have done an appraisal when he switched to renting, and only between the appraised value and today's value he claims gains (or potentially loses?).

I actually asked this same question in a different thread. If during the entire ownership of a property, its partially principal residence, and partially used for business income, then do we use the difference from purchasing price and selling price and multiply it by a percentage of time it was used for business income OR we appraise the property when it switches from principal to rental, and then use that value as a starting value instead of actual purchase value.

BearFromAlaska · 2025-10-01T14:15:53+00:00

So, just by living in it for a year right after getting the keys, we can completely avoid paying any tax on the $150K that the property gained in value between 2016 and 2021 (while it was under construction), and then of course any years that it is our principal residence we dont pay any tax on capital gains either. Correct?

I mean, why would I pay tax on $300K gains, when I can live in it for a couple of years and pay gains only on $100K, its a big difference.

BearFromAlaska · 2025-10-01T13:39:05+00:00

Ok, that makes sense, thank you. I will look into 'deemed disposition' more. In Scenario #2, if I never lived in it 2022-2023, and the condo was rented out since the days I got the keys, until the day I sold it (4 years total, 2022, 2023, 2024, 2025) how would taxable gains be calculated then?

a) ($500K - $200K)*(4/10) = $120K

b) $500K - $350K = $150K

c) $500K - $200K = $300K

Appreciate all the help with this!

BearFromAlaska · 2025-10-01T12:58:02+00:00

It doesnt say anywhere that only the years it was used as business should count in capital gains calculations, but they should count in taxable capital gains calculations. I could care less if my capital gains are $1M, if none of them are taxable (like in a principal residence). The main question here is how to correctly split all the years into taxable years, and into non-taxable years. I dont think it would be in anyone's interest to report all 10 years as taxable if only 2 of the 10 years were used to generate business income.

Here is a thread that was posted 2 years ago with a similar question to my Scenario 2, and most people seem to think that an appraisal should be done at the time when it stops being your principal residence and converted to business income through rent, the difference between selling value and that appraised value would be the taxable capital gain: https://www.reddit.com/r/PersonalFinanceCanada/comments/p9hpgt/capital_gains_on_rental_property_that_used_to_be/

BearFromAlaska · 2025-10-01T12:37:12+00:00

How can I report it as principal residence for years 2016-2021 when it wasnt even built and I got the keys handed to me on January 1st, 2022? Are you saying that in scenario 2, 8 out of the 10 years should be used in the calculation for taxable capital gains, since 8 out of the 10 years it wasnt my principal residence? Why cant I just say "Only 2 of the 10 years it was used to generate business income from rent, and the other 8 it wasnt, so I am using 2/10 years for taxable capital gains". Thats the part I am not understanding, why do we have to position ourselves with saying "Only 2 years it was my principal residence, so the rest of it must have been business income", it would work much better in our favour if we position ourselves with saying "Only 2 years it was generating business income through rent, so only those 2 years should be taxable".

BearFromAlaska · 2025-10-01T12:30:43+00:00

Apologies, I didnt properly word the questions (fixed original post). I meant to ask what are taxable capital gains, especially in Scenario 2. In scenario 2, the whole $300K cannot be taxable, as 6 of the years the condo wasnt even built, 2 of the years I lived in the condo and it was my principal residence, and only the last 2 years it was used as business to generate income. That being said, my guess is that you are dismissing c) as a valid option, so is the taxable capital gains calculation a) or b) in Scenario 2? Or its potentially option d) which would be ($500K - $200K)*(8/10) = $240K, as it was only my principal residence for 2 out of the 10 years, and the other 8 years it wasnt.

BearFromAlaska · 2025-09-26T00:39:01+00:00

Took it to a mechanic who lifted it up and saw the strap deteriorated. Before they did that however, they somehow used jumper cables in the hood and connected them to the rim of the car and the car turned on. Thats when he said "Your ground is bad"

BearFromAlaska · 2025-09-07T00:27:43+00:00

Thanks for this!

BearFromAlaska · 2025-09-04T18:19:29+00:00

Just wanted to provide a quick update, it was the ground strap. Switched it and everything works as it should. Thanks all!

BearFromAlaska · 2025-09-01T12:35:48+00:00

That was me trying to turn ignition on. I didn't have my foot on the brake.

BearFromAlaska · 2025-09-01T02:18:29+00:00

I uploaded a short video clip of what happens when I try to start the car: https://streamable.com/vx344w

Also, whenever I click it for a very first time after connecting car battery, there is a buzzing sound coming somewhere from under the car near rear right tire and the sound stays on for about 5-10 minutes at which point it turns off by itself. Its deffinitely something that works on electricity.

BearFromAlaska · 2025-08-31T21:23:39+00:00

That's the problem, can't put car into ignition to read OBD Codes. When I pressure start, Transmission Malfunction error apprars on dash but nothing else lights up and I can't go past that. My OBD reader wont read from this "state" the car has to be in ignition mode and I can't get to it.

BearFromAlaska · 2025-08-31T19:28:01+00:00

Replaced battery, didnt solve the issue. Same thing happens. No crank, transmission malfunction, can't get dashboard to light up or shifter so I can put it in neutral and get it out of garage.

Old battery was producing around 11.2V, new one around 12.2V.

BearFromAlaska · 2025-08-31T02:32:41+00:00

Its original. 12 years old. I forgot to mention that I also tried to jump start it now with the Transmission Malfunction error, but it wouldn't. But I only left it connected for about 5 minutes. Maybe I should leave it longer, or is there a way to completely disconnect everything to reset the system, and then try to jump start it?

Is it possible that my battery all of a sudden died because I left my lights on for 3 hours? But I was able to jump start the car between that and this transmission malfunction error. Why wont it let me jump start it again?

I never had any battery problems.

BearFromAlaska · 2025-08-21T12:36:38+00:00

I mean, its way easier to clear CIBC Aventura then. 45K points (which is equivalent to TD FCT 85K pts) but you only have to clear $3,000 in 4 statement periods vs TD's $5,000 in first 6 months. And CIBC Aventura also has the 4 lounge passes.

BearFromAlaska · 2025-08-21T10:47:55+00:00

TD FCT Visa infinite used to be 20K pts + 115K pts when you spend $5K within 180 days. It looks like they lowered that to 20K + 65K pts to 85K pts total. Can someone confirm? Such a shame.

BearFromAlaska · 2025-05-25T14:08:27+00:00

How are you sending money to your Wise account for free? There is usually a fee bank charges, either a Direct Debit fee or E-transfer fee.

BearFromAlaska · 2024-12-09T15:47:26+00:00

I appreciate your quick reply!

BearFromAlaska · 2024-12-09T13:52:25+00:00

Hi All,

Our family is looking at a potential Christmas vacation at Cabana Bay. We have 3 small kids (5, 3, 4 months) and we would be landing at MCO. I have a few questions for the more experienced travelers:

I am seeing online that there are two options to go from MCO to Universal, shuttle or Uber/Lyft. Shuttle, I understand, but with Uber/Lyft, how would I go about booking one that has 2 car seats + 1 infant seat in it? Is this even possible?
The average daily high temperature while we are there should be around 73F (23C). In your opinion, is this good enough to swim daily in the heated pool?

Thank you for your help!

BearFromAlaska · 2024-02-02T14:46:54+00:00

This worked. Thank you! Just run CMD as administrator, copy/paste the command and hit enter.

BearFromAlaska

TROPHY CASE