Let's Normalize Moms NOT thinking that cleaning your house without kids is a break. It's not. Showering is not a break. Grocery shopping alone is not a break. Those are basic chores and hygiene • BUT. Mother's are supposed to be grateful to get to do these things that literally everyone else... Just does?
No. Those aren't breaks... which is why at some point, moms get run down,
overexhausted, unappreciated, worn out, and they break.
And then you wonder why. Smh.
This popped up, so allow me add a tax angle here.
In Canada, when you sell your primary home, you usually don’t pay tax on the profit because of the Principal Residence Exemption. But, if you convert a portion of your home into a permanent rental unit (like a legal basement suite), you are likely to lose part of that tax-free status.
The CRA basically sees this as a "change in use" of property. That basement is no longer considered part of your "tax-free" home; it’s instead treated like a separate investment property. This means that if the house goes up in value and you choose to sell it, you'd be expected to pay capital gains tax on the portion of the profit tied to the basement’s square footage.
For example: You buy a house for $700,000. Two years later, you finish the basement to rent it out. At that point, the house is worth $800,000, and the basement takes up 30% of your square footage.
Fast forward a few years, and you sell the whole house for $1.1 million. Since the house grew by $300,000 after you started renting the basement, the CRA looks at the basement's 30% share of that growth, which in this scenario is $90,000. Because that part of the house was a rental, that $90,000 is considered a capital gain.
$45,000 (50% of the capital) is then added to your taxable income on your T1 for that year and taxed according to your overall tax bracket in the same year.
One day you will become a parent and you will understand how hard it is to raise a kid, because the responsibility is constant, the sacrifices are real, and the effort never stops. Then you will love your parents even more, since you finally see what they carried for you.
I’m that mum, if my child shows interest I buy everything to entertain it. My daughter loves puzzles, I just ordered 20 to come tomorrow. Next week she’ll tell me likes Lego instead 🫠