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1 10 The Canadian Statesman, Bowmanyille, Wednesday, September 11,1991 Real Estate Deadlines and Policies Deadline for Wednesday Publication is Monday at 12:00 Noon. Any compensation for errors or omissions by The Canadian Statesman will be limited to the value of the space occupied by the error in the advertisement. Please phone 623-3303 and ask for the Real Estate Sales Department Home Office Tax Tips By Jeff Meyers, CA Anyone who works at home, whether it's full-time or for just a MomY(WE. few hours a week, has undoubtedly undoubtedly wondered exactly which expenses expenses related to that work arc deductible. And they couldn't be blamed for wondering. Legislation on the subject is complex and, currently, currently, the tax rules differ, depending depending on whether you arc self-em ployed, acommissioncd employee or a regular employee. If you 're self-employed, you may claim expenses on part of your home. But, the portion of it for which you arc deducting expenses must be cither your principal place of business or be used exclusively for the purpose of earning income from the business and used on a regular and continuous basis for meeting customers, clients or patients. patients. This means, for example, that you can't use your den as an office by day and a family TV room by night. Real Estate Sales Fall Slightly During August w/m |[1^ *"itl.i|iiwlii|i;ii^ ■ •' 'll "We're working harder in Bowmanville and area to serve you better" Deductible home expenses include include mortgage interest or rent, property taxes, maintenance, repairs, repairs, insurance and utilities. The amount you deduct may be based on the square footage of your officc.(unless, of course, the expense expense relates dirccdy to the work area). If the work area is one-sixth of the total area of your home, then you can deduct one-sixth of the related expenses. You could also claim capital cost allowance (CCA) on the part of thchomc lhatyou use for your business. But, if you do, you lose the principal residence exemption on that portion. Should you sell your home, that portion could be subject to capital gains tax. It's important to note that home office expenses cannot exceed the self-employed income from your business after all of your other expenses arc deducted. However, the excess expenses not deducted can be carried forward for a limitless limitless period of time. If you are a commissioned salesperson salesperson working from your home for an employer, you can lake essentially essentially the same deductions as a self-employed person, except that mortgage interest and CCA arc off-limits. To bccligible for work- related deductions, you must pay expenses from your own pocket and you ordinarily must carry out your duties away from your employer's employer's place of business. In addition, addition, a quirk in the law stipulates that you cannot be in receipt of Although sales dropped by 2.1 per cent compared to this time last year for the month of August, year to date figures figures for the Durham Region arc still impressive, says the Oshawa and District Real Estate Estate Board. "The direction so far litis year shows that people in the Durham Region still view home ownership as a wise investment investment even when oilier areas areas of the economy continue to struggle with die recession and uncertainty," says Anne Briscoe, FRI, CMR, President President of the Oshawa and District District Real Estate Board. In the month of August, 331 homes were sold by ODREB members, at an average average house price of $155,669. "The Durham Region offers offers realistically priced housing housing in all municipalities," said Briscoe. "We arc seeing activity in all price areas: 49 per cent of the homes sold were under $150,000. 35 per cent were in the $150,000 to $200,000 range and 16 per cent were over $200,000." "However, if we could look forward to a further decline decline in long-term interest rates, it would help to restore confidence in our economy. I would also encourage Finance Finance Minister Don Mazan- kowski to look at the Canadian Canadian Real Estate Association's RRSP proposal which would free up funds for first-time homebuyers." 214 King St. East, Pn\/An 85 King St. West,: Bowmanville Newcastle 623-4445 987-4733 "The Small Company that Is Big on Service" AjaxvToronto 686-0477 OPEN HOUSE SAT., SEPT. 14, 2 - 4 p.m. 3 Massey Dr., Village Of Newcastle $149,900. 4 level backsplit, 1700 sq. ft., 50' lot, 4 bedrooms, family room, walkout from kitchen. 64 STANFORD - $172,900. 4 bedrooms, 4, 3 and 2 pc. baths, main floor laundiy and family room with fireplace. Greenhouse kitchen with walkout, walkout, backs onto park. Call Murray Paterson, Sales Rep., 987-462B (res) or Glenda Bedard, Sales Rep., 987-4316 (res.) 10 VINCENT COURT, NEWCASTLE Popular Foster Creek area. 3+ bedroom'backsplit, well finished lower level. Asking $149,000. 14 OATLEY COURT,) NEWCASTLE » 155' x 55' village lot on a quiet court. 3+ bedrooms, well finished lower level, appliances included. Asking $164,900. Call Wilma Entwlstle, Sales Rep., 786-2911 (res.) Spacious, clean, bright, north of Or KRYSTYNA JONES Sales Associate BEST BUY! 3 bedrooms, 2 baths. Just | rono. Easy commute. Clean, tidy, three bedroom'starter .in Oshawa,'quiet residential residential area but within walking distance'to Oshawa Centre". No maintenance exterior, forced air gas, heat and single de- I tached garage. Details available from Patricia Lange 576-3111 or 623-4998, CENTURY ON I ACRE $269,000. GORD BARNES Assoc. Broker | With small stream, front and rear staircases to second floor. New windows, furnace and shingles in 1982 and 1980, detached double I garage. Gord Barnes 576-3 III or I 623-6860. r (mr-A NANCY BARNES Sales Assoc. DON'T FORGET IT Legal duplex on very private 1/2 acre with detached double I | garage, 200 amp service, new windows In 1986. Park-like setting. Call Nancy Barnes 623-6860 at home or | Office 576-3111. 24 HOUR PAGING SERVICE 576-3111 80 Athol Street, Oshawa "any reasonable travelling allowance". allowance". Deductions are available to regular regular employees who arc required to incur certain expenses and arc not reimbursed for ihém. For those who work at home, home office expenses expenses are rcstric ted to utilities and maintenance related to the home work area. If you pay rent, you may deduct the portion related to your office. If your employer requires requires yoti to haveasalaricdassist- ant, his or her wages are also deductible, deductible, but get the requirement in writing. You have to file form T2200 with your lax return to get the deductions. Supplies, such as paper and pen- ciIsarcnot"homeofficccxpcnscs". They are deductible if you have to pay them out of your own pocket rcgardlessofyourstatus. (Employees, (Employees, of course, must be required to incur these expenses). However, as with all of the other expenses if you arc reimbursed for them, you can't claim them.» Proposed changes in the rules for deducting expenses related to working at home will treat Ihcsclf- cmploycd, commissioned and regular employees in the same manner. Thismcanscommissioncd and regular employees will have more problems claiming deductions deductions since it will be difficult for them to legitimately call their homes thcirprincipalplaccof business. business. For CA's advice on TV -- sec Your Wealth, available on broadcast broadcast channels in Ontario and on satellite across Canada, or sec Money in the Bank, on your community community cable channel. HOCKIN REAL ESTATE 123 KING ST. EAST, BOWMANVILLE 623-4115 NEW 1860 REPUCA FARMHOUSE Custom-built estate home on 1 acre lot with a ground-source heat pump, interlocking brick walkway, oversize 2-car garage and much, much, more. $349,000. ARE YOU WILLING $133,500. STARTER to do some 'Home" work? H you bring badt just listed. Newly renovated two bed- the sparkle, you will have a amart Investment In this 1,400 sq. It, bungalow whh attached garage, Opportunity Is knocking lor First-Time buyers, $119,800, OUTDOOR POOL/INDOOR COOL Starling out or retiring, this homo In Bowmanville Is perfect lor you. Throe bedroom, detached backsplit with central vac, central air and a pool Is waiting lor your lender care. $139,800, room bungalow, on a 166 foot deep lot, Immediate possession for this north-ond location, BOWMANVILLE- COMMERCIAL Corner lot with brick building and lots of parking. Asking $350,000. FOR YOUR RETIREMENT OR JUST GETTING STARTED This beautiful 3 bedroom bungalow with attached garage In the lovely Village ol Newcastle, Brand now lorced-alr gas lurnace, Come sink your foet In tho luxurious carpet, In this 3-yoar old Halmlnen built homo, It won't last at $151,000. Call now, f > 'V; Af BILL WHYTE Sales Representative COMMERCIAL BUILDING ON 1.4 ACRES 3,200 sq. It. building close to 401 access access In Courtlce. Ideal lor small business. business. Call now. $430,000. wSÈBt 1BE ::-.'252tsfâ*a"Ea WELL LOCATED This beautiful, 3 bedroom, two storey with attached garage Is well-built and well-maintained. Has a unique family room, ensuite In master bedroom and much more. Priced to sell at $191,900. OPEN FOR INSPECTION SUNDAY, 1 -4 p.m. 15 WINDHAM CRES., COURTICEl Comparé, Compare, Compare! Go through the rest of the "Open Houses" in the area, and then visit this home! Large, 3 bedrooms, family family room, separate dining room, central central air and lots more. Extremely motivated vendors. Dir: Hwy. 2 to Sandringham to Windham. LARGE 4 BEDROOM EXECUTIVE HOME 3 baths, family room, fireplace, central air, excellent location in Bowmanville. $204,900. For these and other properties In area, please call Vinnie Gupta* at 623-6000,24 Hr. Pager or 987-1709 Res. CLOSE TO SKI HILLS $172,900. Custom built raised bungalow. Large eat-in greenhouse greenhouse kitchen, main floor laundry, master bedroom, bedroom, 4 pc. ensuite, fireplace, 2 car garage, almost almost an acre. BUILDING LOTS ■ Build your dream home. 1 acre to 5 acre lots. . Call for details. Call Paul DeJager* 623-6000 or 623-2712 PRICED TO SELL! Huge 60 x 204 foot lot. Detached Detached 24 x 24' garage/ workshop with hydro. Nicely landscaped. WHY PAY RENT? This 10 x 50 ft. mobile in year round park can be yours. Move in before winter. To View Call Ellen Bush* 623-6000 LOOKING FORA DEAL? MUST BE SOLDI! 3 bedroom raised bungalow with large eat-in kitchen, thermopane windows, walkout onto- deck off kitchen, 3 baths, potential 4th bedroom, airtight insert fireplace in family room and1000 $$$$ spent in upgrades. Vendor anxious. Call now. Asking $177,900. Rod Doris* 623-6000 or 987-1832 (Res.) FOR THOSE STARTING OVER If you have good earning power, but a low down payment then I have the perfect home for your new beginning. This three bedroom, bedroom, three bathroom, newer home is waiting for your commitment commitment to a new start. For viewing please contact Donna L. Butler* 623-6000. WILSON AND ROSSLAND, OSHAWA 2 storey, walkout basement, 3 + 1 bedrooms, bedrooms, ensuite in master. 1 -4, 1-3 + 2- 2 pc. baths, good area, walking distance to shops and bus. Garage and paved drive, parking for 4 cars.. Call Shirley Dubroy * 623-6000 or 579-9450. / ■ ■ V ' ' : : -'-fi'vb //"'■"..'IK, bowmanville fn.-' w 428-1206 (Toronto Line) v .,~.v " Associate Brokers X v / * Sales Representatives z k Doug Humphrey* Alf Annie* Kay Brown* Ellen Bitah* DOnna Butler* Paul DeJager* Rod Doria* Shirley Dubroy* Lionel Edmonson** S s' A f, Î Carol Hallman* Gord Hooey* JoAnn Jukes* Tony Klompmaker** Linda McLennan* Paul Pasgas* David Passant** Sally Staples* Dianne Warren* Two Offices Still Available 1989 TROPHY TRAILER On year round site, all appliances and large storage shed included, great setting with lots of open space, mini-golf, tennis, pool, park and woods. Asking $25,900. HOSPITAL AREA Solid 3 bedroom brick bungalow, newer windows, 1 - 4 and 1 - 3 pc., finished rec room, garage with loft 50 x 150 ft. lot. Asking $149,900. For these and many other properties, Call David Passant** 623-6000 or 623-3408 ENNISKILLEN-$199,000. Immaculate sldosplit with loads ol living space, plus doubla garage, plus Hugo landscaped lot, SPECTACULAR VIEWS Abound from the windows ol this quality built 3 bedroom home north ol Bowman- vlllo, Largo family room with fireplace, ovorslzoa patio, gorgeous pond, garage and barn. 12,3 acre lot, $374,900, „ For Information on these properties or a current market eveluatlon of your property without coet or obligation, pleaee call ua CALL DOUG HUMPHREY or SALLY STAPLES BUDGET BEATERÏ Spacious lour bedroom live level side- split In desirable west Bowmanville neighbourhood, Main floor family room with llroplace, rec room, attached garage, garage, Priced to sell, $154,900, OMEMEE-$115,000. Terrific starter home, shaded by mature mature trees on peaceful dead end village village street, OPEN HOUSE 24 DOREEN CRES.,: BOWMANVILLE , SATURDAY, SEPT. 14 1:00 - 4:00 p.m. ; Sunday, Sept. 15 1 K)0 - 4:00 p.m. Well kept 3 bedroom 5 level link home on manicured lot. Large eat-in kitchen with adjacent den. Asking $131,900. Take Waverley Rd. S. to Rhonda, follow Rhonda to Doreen. For Further Information, call Linda McLennan* 623-6000 (Bus.) or 786-2440 (Res.) 24-Hr. Pager OPEN HOUSE 11 Bh Drive, Mlltbrook Sun., Sept. 15 1 - 4 p.m. New 3 bedroom, 2 storey, 6 acres. Dir: Cty. Rd. 9 to 10th Line (Garden Hill), north to Deyel 3rd East to Bee Drive. | "l ■wap. Great Assumable Mortgage .99 acres, 3 bed- ALLTHE GOODIES 4 bedrooms, 2 storey, storey, oversize In- ground pool, sauna and change house;'2 car garage, gre&t area ol town. ii FOR ADDITIONAL INFORMATION, CALL Carol Hallman* 623-6000 (Off.) 623-2706 (Res.) 428-1206 (Tor. Line) ■ room bungalow, in- ground pool, 1 bedroom bedroom guest house. Call to find out more about mortgage. LEGAL TRIPLEX-$242,900. NEWCASTLE -$159,900. Building in excellent condition. All brick bungalow with at- Good income. Close to 401 in ] ac hed garaae, 75 x 200' Bowmanville. lot. Close to Lake Ontario. Please Call Alf Ann s**, Assoc. Broker OPEN HOUSE 21 Rosalynne Dr- Bowmanville SAT., SEPT. 14 end SUN., SEPT. 15,2-4 p.m. Spacious 4 level backsplit, 3 bedrooms, bedrooms, games area, could be 4th. Rec room with fireplace, central air, Waverley S to Rhonda, right to Rosalynne. Rosalynne. Reduced to $179,900. FOR FURTHER INFORMATION PLEASE CALL Off. 623-6000 DIANNE WARREN* Res. 987-5654 VENDOR TRANSFERRED And must leave this lovely 2 + 2 bedroom bungalow, on large 100' x 150' lot, walkout from kitchen, separate dining, acorn fireplace in living room, W.S. in rec room, 24' x 32' garage. Super buy and must i sold at $149,900, NEW LISTING > VENDORS \ ANXIOUS ^ V 9 133 High St., Bowmanville 2 storey, 4 bedrooms, new 4 pc. bathroom, walkout to wrap around deck, rec room, pool, fireplace. Asking $169,900. Call Kay Brown*, 623-6000 or 623-3150 SUPER BUY AT I $129,900: . •" Sitting on 1/3 acre tot backing onto Wilmot Creek. Co un; try kitchen with W/S, 2 baths, includes 4 appliances. Call today. Call Joann Jukes* 623-6000 or 987-3265 broker/owner 623-6000 associate broker BACKSPLIT Finished top to bottom, bottom, 3 bedrooms, new oak kitchen, family room with woodstove, walkout to patio, fully decked pool, central air, north end location. $152,500. For more Information on this and other properties Call Gord Hooey* 623-6000 or 623-6*217