If you own a cottage, or are thinking of buying one, be mindful of the following cottage-owner mistakes that can cost you big tax dollars of you’re not careful.

Failing to track capital improvements: At some point, you’re going to dispose of your cottage – either by transferring ownership, selling it or by dying. When it comes time to calculate your tax bill on a disposition, it’s going to be important to understand your correct adjusted cost base (ACB).  To read more click here.