Canadian DVCers???

[tigger2on]

Do we pay any tax here for owning DVC????

 

[RoyalCanadian]

Are you making an income from owning DVC? That would be the only way you would pay a tax if you owned DVC.

However, we are not able to use the property tax portion of our maintenance fees as a tax credit on our provincial income tax return.

 

[dsneygirl]

Nope.

 

[TreesyB]

I remember I had to sign a document declaring that I would be making no money on DVC thus unable to use any of the interest as a deduction, even for business purposes, thus not requiring to withhold at the source for any of the purchase price.... or something like that.

But in signing that document, DVC became a non-declarable on any income tax (business or otherwise) and became a purely luxury purchase.