Tax Implications of Owning a Cottage or Second Home
Cottage ownership is enjoyed by many. Having a place away from home, where you can experience the great outdoors with family and friends is golden. Other people prefer a change in scenery and would rather have the flexibility of going to different places rather than be compel to one given location. I guess different strokes for different folks.
If you own a cottage or second home and are now seeking to sell, a few things will come to mind- mainly the tax implications of ownership.