GREG STEELE

"Not All REALTORS® Are Alike"©

As the famous Benjamin Franklin quote goes, there are two things in life that are unavoidable – death and taxes. Luckily, at least one of those can be made easier with the right knowledge. With filing deadlines fast approaching, here are a few things to know this season.


Individuals in Canada must file their income tax returns by April 30, which falls on a Friday this year. If you are self-employed, or your spouse is, the deadline to file is extended to June 15 although any balance must still be paid by April 30.


There are a few federal homeowners tax credits you should know about when preparing your return.


First-Time Home Buyers' Tax Credit
If you purchased your first home in the 2020 tax year, or if you haven't lived in a home owned by you or your spouse in the last four years, you may qualify for the First-Time Home Buyers' Tax Credit (HBTC) of $5,000, which adds $750 to your tax refund.


GST New Housing Rebate

If you paid Goods and Services Tax (GST) on a home that was newly built or substantially renovated last year, you might be able to take advantage of a new housing rebate on part of the tax.


Home Accessibility Tax Credit (HATC)
The Home Accessibility Tax Credit (HATC) could help you save taxes on an eligible renovation costing up to $10,000 if you and the property meet specific criteria. The renovations have to be permanent, make the home more accessible or reduce the potential harm to the qualifying individual, and be completed by qualified professional tradespeople.


Rental income deductions
If you rent out all, or even just part, of your property you must declare the income on your taxes. The good news is you can also claim allowable expenses such as advertising fees, property taxes, insurance, and interest on money you borrowed to purchase or renovate the rental property


Moving for work or school

If you moved to attend school full time, launch a new business, or take a new job, your moving expenses – like moving company bills, hotel bills, and legal fees - could be tax-deductible.


Working from home

Like any year, if you are a business owner or self-employed and work from home, you can claim certain expense related to your work that could include a portion of your utility bills, homeowners' insurance, internet bills, office supplies, and more.


In 2020, because of COVID-19, there are additional working-from-home expenses that you may be eligible for. The CRA allows all employees who worked from home during the COVID-19 pandemic in 2020 to claim up to $400 as a flat rate or $2 per day in employment expenses. Read more about eligibility here.


This information is for general use and does not constitute legal or financial advice. Please speak to an accountant about your specific situation.

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I have listed a new property at 20823 55 AVE in Edmonton.
Unique and One of a kind 4 bedroom bi-level in The Hamptons!! This beautifully finished home boasts an ELEVATOR at the front entrance leading to the main and lower level, ideal for a special needs family member. Featuring HARDWOOD flooring on the main, ceramic tiles, STAINLESS STEEL appliances & GRANITE countertops in the beautiful kitchen. Nearly 2300sf of living space from the private master on the upper to the bright raised basement with oversized windows. The main floor features vaulted ceilings in the great room, kitchen and the dining area. A generous primary suite features vaulted ceilings, a walk in closet and a 4-piece ensuite featuring a Jacuzzi tub. The builder professionally developed basement has a huge family room, rec room, an oversized laundry room, 4th bedroom and a 4-piece bathroom. Private sunny south facing yard with composite deck and storage shed underneath. Close to schools, transit, West Edmonton Mall, shopping, the Whitemud & Henday freeways, you won't find another home like this!
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I have listed a new property at 5631 201 ST in Edmonton.
Spacious 2,165SF custom built Daytona 4 bedroom, 3 bath family home located in the Hamptons. Great floor plan has a flex room off the front entrance - ideal for home office or formal dining room. Open concept design features a functional kitchen with raised eating bar, corner pantry and Stainless steel appliances. Spacious living room with cozy fireplace, huge mantel area nestled between 4 windows overlooking the back yard. Dining area leads to a newer composite deck and private fully fenced yard. Main floor laundry, 2 piece bath and mudroom to double attached garage. Upstairs you’ll find a bonus room, family bath, and four generous bedrooms including the master suite with huge jetted tub, separate shower and walk-in closet. New Central Air, New Tankless Hot Water, Multi Camera Security, Nest Thermostat and beautiful Hardwoods. Well located close schools, shopping, bike and walking trails around multiple ponds, easy access to Anthony Henday and Whitemud...a perfect family home!!!
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The Highlands neighbourhood in north east Edmonton is a popular residential area and, a few years ago in 2012, it was named one of Canada's top ten neighbourhoods of old homes by the magazine “This Old House.”


The neighbourhood was annexed to the city in 1912 and got its name from a contest that offered a $50 dollar prize for the best suggestion – and Highlands it became!


Highlands is surrounded on the north by 118 Avenue, on the east by 50 Street, on the west by 67 Street, and on the south by the North Saskatchewan River valley. Residents have easy access to the University of Alberta and Whyte Avenue, as well as wonderful views of the North Saskatchewan River Valley. It is the perfect place for anyone looking to settle down.

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Cherrydale Park
7524 139 Avenue
There are a variety of stretching and strength stations at this park, which are found along a walking trail. There is also signage about healthy eating and living for additional tips.


Gateway Fitness Park (The Village at Blackmud Creek)
1006 103A Street SW
At this park, you will find pods along a walking trail and equipment that includes strength, balance and stretching stations.


Grandview
124 Street and 63 Avenue
This park has a grouped circuit which includes cardio equipment, like elliptical and strength-based equipment like leg and body lifts.


John J. Olinyk Park (Beverly Heights Park)
4626 115 Avenue
You’ll find a variety of stretching and strength stations along a walking path. There is also a playground nearby and a chess tables.

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I have listed a new property at 20823 55 AVE in Edmonton.
Unique and One of a kind 4 bedroom bi-level in The Hamptons!! This beautifully finished home boasts an ELEVATOR at the front entrance leading to the main and lower level, ideal for a special needs family member. Featuring HARDWOOD flooring on the main, ceramic tiles, STAINLESS STEEL appliances & GRANITE countertops in the beautiful kitchen. Nearly 2300sf of living space from the private master suite to the bright raised basement with oversized windows. The main floor features vaulted ceilings in the great room, kitchen and the dining area. A generous primary suite features vaulted ceilings, a walk in closet and a 4-piece ensuite featuring a Jacuzzi tub. The builder professionally developed basement has a huge family room, rec room, an oversized laundry room, 4th bedroom and a 4-piece bathroom. Private sunny south facing yard with composite deck and storage shed underneath. Close to schools, transit, West Edmonton Mall, shopping, the Whitemud & Henday freeways, you won't find another home like this!
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