Whats wrong with my thinking - looking for opinions

[jerseyduke]

One thing I did hear (which could be wrong) is that if you use David's (which is located in Ontario), there is no need to file a US tax return as the sale was done in Canada.

I think your quote got messed up. You had me thinking I was nuts, I was wondering where the heck I said that, because it doesn't sound like me at all.
If i owned a home in Canada and rented it out, I would not even think of filing a Canadian tax return.
I highly doubt David's files anything with the US IRS, so they would not even know about the income.

IE. I do not think you are wrong at all. The IRS would have to audit a Canadian citizen - and all for a few hundred dollars.

 

[CanadaDisney05]

I think your quote got messed up. You had me thinking I was nuts, I was wondering where the heck I said that, because it doesn't sound like me at all.
If i owned a home in Canada and rented it out, I would not even think of filing a Canadian tax return.
I highly doubt David's files anything with the US IRS, so they would not even know about the income.

IE. I do not think you are wrong at all. The IRS would have to audit a Canadian citizen - and all for a few hundred dollars.

weird. don't know what happened and don't know how to fix it. I'll just repost

 

[CanadaDisney05]

Renting points runs into similar problems as you have to file US tax returns for the income in both us and Canada.

One thing I did hear (which could be wrong) is that if you use David's (which is located in Ontario), there is no need to file a US tax return as the sale was done in Canada.

 

[Madame]

Another option if you dont want to sell is dont sell. Just stop paying the dues. Who cares. I doubt disney even reports it.

My concern with VB or HHI is the seemingly increasing tropical storm activity.


Not questioning the validity of this statement, but am curious as to why? Should I have an aversion to being in Canada's equivalent of the IRS?

Isn’t it enough to be tied up in one’s own country’s taxation system? No one really wants to be in a foreign country’s system just to sell one timeshare. Plus it’s another ID number you have to worry about getting stolen.

 

[BarlowFamily]

You've received a lot of great feedback...things that helped ME as well. We are also looking to purchase 100 points resale, though we are US not international buyers. I can't speak for all the tax info, but which resort is important to us. We've researched ROFR, charts on cost over the life of the purchase (price per point divided by years remaining plus MF accounting for 2-3% increase), charts on 7 month availability and have pretty much decided to purchase the Poly. That was a surprise. We were looking for 20 years and $100 a point. Our research showed us that something else would be a better fit for our family. It doesn't sound like you have that certainty yet. I encourage to give it another look and you just might be surprised at the best choice for your family.

 

[jerseyduke]

Isn’t it enough to be tied up in one’s own country’s taxation system? No one really wants to be in a foreign country’s system just to sell one timeshare. Plus it’s another ID number you have to worry about getting stolen.

Agreed. I was entitled to a refund of either PST or GST (I forget which) at one point in time - but i did not bother.

You could not file to get the withholding tax back should you choose. It will just reduce the amount you get back. The US IRS probably will not go after you because they owe you money

 

[Madame]

Agreed. I was entitled to a refund of either PST or GST (I forget which) at one point in time - but i did not bother.

You could not file to get the withholding tax back should you choose. It will just reduce the amount you get back. The US IRS probably will not go after you because they owe you money

Those are my thoughts as well. It would take a lot of money to convince me to apply for an ITIN number (SSN for foreigners), hire a FIRPTA specialist and file paperwork and... well, they can keep the money.

I actually backed out of a DVC purchase because it was an international seller & when both buyer & seller are international, they both need an ITIN. No thx.

 

[crisi]

I would really encourage you to buy where you want to stay. DVC unit availability has changed incredibly in just the past three years - its almost unrecognizable from what it was ten years ago - and when we bought almost 20 years ago, I could book a standard view studio in October (BWV is my home) for F&W at ten and a half months (hey, I was traveling). Looking ten years out, there is no guarantee that a Vero Beach contract will get you onto Disney property at seven months without you being flexible in terms of unit size and dates.

I don't really consider a studio at SSR an upgrade from anything except perhaps the values, myself - and its questionable with regards to the values - its still a bus everywhere. You don't get two real beds. There aren't interior hallways or an easy to access for most of the resort lounge. There are people who love it, but I'd be far happier offsite if my choices where SSR, Values, or offsite. You need a two bedroom to get real beds, and real beds are important to us. And two bedrooms just for two beds negate any savings, unless your family is large enough to need two rooms.

 

[SL6827]

Where did you end up staying at SSR? We are staying there in a few weeks for the first time, and I can't seem to figure out where I would like to request.

Request a room close to the Grandstand Pool. I specifically requested building #85 and got it. I lucked out though. I do believe it is a high request area, so chances are very so so if you get it.

 

[SL6827]

I will say that I will not book SSR again without booking Preferred section. It is that big.

 

[plygph]

My 2 cents (USD)

I think your $40 point threshold is unreasonable but good luck I do hope that you can achieve that.

I own BLT SSR AUL My purchases were based primarly upon where I like to stay then I looked for a contract at a price I could live with. I have gotten more out of these purchases than my initial investment in simply pure enjoyment not to mention the cash side of it. I suggest that where you pick as a home resort that its some place you like to stay because that 11 month booking window does come in handy. As has been my experience along with other I have seen posted on these boards its getting increasingly harder to find accomodations at the 7 month window. Those last minutes trip are even harder. In fact I have 2 trip planned one coming up in NOV 16-17 had to wait list one night wanted Halloween but marathon weekend ended that quest, the other FEB at AUL on the exact day my 7 month window opens I will be scrabling to book as I have already used my home points.

One thing to consider before looking at that low price per point is what are the maintenance fees at each DVC location. Some have higher fees than others so do your due diligence to figure out what is the true cost of ownership.

Now lets talk points 100 eh no I think your a little light there. 7 days deluxe suite at AUL standard parking lot view 171 points. I would be looking not far north of that 100 to between that and 160. Prices are always going up. Fewer point contracts make good sense as they are easier to resell people are always looking for those 25-50 point contact and they do command a premium price. Higher the points in the contract the lower the price has been my experience because they are quite frankly take longer to sell because you need someone like yourself who is just getting started and needs the points.

Now Location: I will tell you if i were looking right now for another contract it would be OKW this is the most over looked DVC property out there. Oldest yes but it has the largest rooms, the 1br unit I stayed in was bigger that my first house.

Well that concludes my soap box presentation. Good luck look at all of the resale companys as they are not priced equally, but jump into the DVC pool the water is warm and you will not be sorry that you did.