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Wow...too bad. That was a great piece. I'll be surprised if whatever replaces it (if anything) is as interesting, but I guess you never know. Are the other sculpture(s) in that area being taken out too? (I only remember one...sort of a bridge thing with a gap in the middle?)

$1500/month would be if you're renting the unit out yourself, outside of the hotel pool. Depending on the unit it's closer to $2,000/month in the pool (although taxes are also higher, since you have to pay commercial property taxes as opposed to residential). That makes me wonder: are you making...

Suffice it to say that I am confident in those numbers.

Do you have any investments in condo hotels? They don't seem to get much discussion here, but I would think that they might be an interesting investment, if only because the income should be taxable at the small business rate (assuming you own it through a corporation). A lot less bother than...

Our house is the opposite - it's probably also about 2100 feet (and also in Cabbagetown), but it only really has two (though well-sized and with ample closet space) bedrooms (the attic is finished and could theoretically be a bedroom, but the stairs to get up there are really steep and would...

I agree. It's hard to tell about material and finish quality from a picture, but the style seems to fit in nicely, in my opinion (and will look even better once the shrubbery goes in).

I went with King's Reserve, but Corktown Common was my second choice. Don River park just seemed a bit boring, and the other two seemed too hard to pronounce to develop into a common name for the place. :)

Couldn't agree more...aside from being ridiculously bland, they're all drawn in the same (cartoonish) style. I would have at least liked to see a few different artistic styles to represent the different characters. I can't even pick a favourite.

In case anyone was wondering what Pam McConnell's stance on Porter's plans is (spoiler: she's against them), this is the text of an email I just got from her. While she makes some valid points (the need to deal with increased traffic in the neighbourhood is one), I think that the tone of her...

Well said. I used to live at Richmond and Spadina and I would have welcomed the casino when I was living there (I suppose my vote is less impactful given that I don't live there any more, but when I was there I often grew tired of the NIMBY-like nature of a number of the posters I would see...

I'm a tax lawyer. I don't want to bog this thread down any further but, as I said from the start, the question is whether she "ordinarily inhabited" the condo while she owned it, or whether she always intended to sell it for a profit. My point is simply that you can "ordinarily inhabit" a...

I have to say, Keithz (and others) have done a great job of rebutting what so far have been a few very vocal, but badly researched and poorly thought-through arguments against the expansion (not to say that there are no valid arguments against it - traffic at the foot of bathurst is a concern in...

Short of getting a professional valuation I would expect that you could use any method that seemed credible, such as comparing sales of similar properties in the area or something similar (although I've never actually had to do it myself).

As has been mentioned, you should consult a professional. That being said, I can tell you that when you change the use of a property from non-income-earning to income-earning (as you did in 2012), you are deemed to have disposed of the property at the time of the change for fair-market value...

Not trying to be condescending, but you're confusing a number of issues. The 1982 date relates to the ability of a family to claim multiple principal residence exemptions for different properties in the same year; it has nothing to do with the requirement that you have to "ordinarily inhabit" a...

Heh...yeah I thought that was funny too. That poor man.

Other than the fact that there's a question as to whether she "ordinarily inhabited" the condo if she only lived there for 15 days, there's absolutely nothing wrong with what she did. There's no limit on the number of "principal residences" you can own at a time, as long as you "ordinarily...

I thought the last paragraph of that article was interesting: "The poll also found that just over half of Torontonians prefer to use the island airport over Pearson for short trips — in particular, those who live downtown, Progressive Conservative supporters, high-income earners, those who walk...

The quote you took from the wikipedia article deals with US short-term capital gains rates (i.e. for property held less than one year); US long-term capital gains rates (on property held for longer than one year, which is what you do if you're looking to earn capital gains income) were 15% for...

I don't believe that that is correct. US long-term capital gains rates are 15%, while in Canada (taking Ontario as an example) it's about 23%. All that being said, I dont believe that VC profits would be taxable as capital gains, at least not in Canada. Same reason day-traders don't pay capital...