Tax & estate planning for your vacation property

June 1, 2021

Jamie Golombek and Tess Francis, Tax and Estate Planning, CIBC Private Wealth Management

Summer is a great time to enjoy a vacation property with family and friends. With real estate values increasing significantly in the past year, and notably so for vacation properties, it’s also a good time to do some estate planning for the potential transfer of your cottage, chalet or cabin¹ to future generations. This report will focus on tax and estate planning strategies for Canadian vacation properties.²

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¹ We generally refer to a vacation property as a cottage in this article.

² For U.S. vacation property planning, please see our report “Your US vacation property could be quite taxing” which is available online at: www.cibc.com/content/dam/personal_banking/advice_centre/tax-savings/us-vacation-property-en.pdf.