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New Member
posted Oct 30, 2019 8:06:22 PM

Is a transfer of a provincial land lease from brothers and sister, to sister only, a tax situation?

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1 Best answer
Level 13
Oct 30, 2019 8:06:24 PM

 If the land which you are leasing is not being used as an income producing property, there should be no tax consequences. If it was used as income then you might have GST, or claiming your lease costs as an expense for business or rental depending on your circumstances.

If you need further clarification, please reach out to our tax experts by following instructions below:

I'm using TurboTax Live Assist & Review. How do I talk to a tax expert?https://turbotax.community.intuit.ca/replies/3456106

1 Replies
Level 13
Oct 30, 2019 8:06:24 PM

 If the land which you are leasing is not being used as an income producing property, there should be no tax consequences. If it was used as income then you might have GST, or claiming your lease costs as an expense for business or rental depending on your circumstances.

If you need further clarification, please reach out to our tax experts by following instructions below:

I'm using TurboTax Live Assist & Review. How do I talk to a tax expert?https://turbotax.community.intuit.ca/replies/3456106