Thank you for attending (or watching) our session on how to help your kids buy a home. Our panel discussed a number of key questions, but these conversations often begin with mortgage pre-approval — and quickly expand into tax, legal, and GST considerations.
Our panelists included:
- Stephen Green – Mortgage Agent / The Financial Collective
- Joseph Irvine – Family Lawyer at GGFI Law
- George Tadross – BDO Partner, Indirect Tax
Key themes from the session included:
- How lenders view gifted vs loaned funds
- Where parents can access cash — including corporate funds
- When co-signing makes sense (and when it doesn’t)
- Whether parents should go on title
- How GST/HST can apply to new builds and assignments
- How CRA may challenge fair market value
- Family law considerations if a child later marries or separates
- The importance of proper documentation
- Making assistance fair among multiple children
For incorporated business owners, helping a child, or grandchild, buy a home is rarely just a transfer of funds. It is a structural decision that can affect taxes, estate planning, HST/GST exposure, and family relationships.
Resources
For additional resources related to this topic, see:
More questions?
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Remember – circumstances are unique! This information is summary in nature. Seek out advice from your tax advisor about your specific situation.