DVC for Canadians

[rgilmour]

Just returned from WDW in August and we are thinking of purchasing DVC at BC
Just wondering what are the tax implications for Canadians
Does anyone have any information on how it impacts on Canadian taxes to own DVC?
Thanks

 

[MikeJ]

There is a question on the tax return which asks (I'm paraphrasing now) "Do you own foreign real estate in excess of $100,000?" We own 330 pts at OKW and even taking exchange into account we did not pay anywhere near that amount. I suspect CCRS is looking out for any capital gains should you decide to sell your foreign property and they want to make sure they get their cut of the proceeds.

There might be implications if you choose to rent our your DVC on a regular basis, but other than that I'm not aware of any others.

- Mike