Yes, not only does our program offer a very generous tax shelter/deferral, but our investment program continues to be one of the few remaining tax shelters accepted and approved by Revenue Canada with an official Tax Shelter Number being assigned to your investment.
Typically, your charter business covers all the costs of boat ownership, yields an operating profit exceeding financing payments, qualifies you for generous tax deferral and generates a positive cash flow. Your net worth increases by your growing equity and cash surplus. For a more comprehensive answer, please contact our sales department.
Yes, you have a choice of registering your investment in your personal name or business name, depending on which benefits you the most financially using the Tax Shelter.
By applying charter profit and tax savings towards the loan balance, your boat and charter business could be 'free and clear' in roughly ten to twelve years depending on down payment, interest rate and other factors.
We have the option of making minor improvements to your boat without your permission for up to $3000 per year. Your boat will also require a general upgrade in year seven or eight. This will mean an investment of up to $25,000 and will ensure your boat's value and competitiveness in the rental area.
This program has been uniquely tailored to maximize the tax shelter, charter revenue, and personal benefits of owning a houseboat managed by a solid, successful, and long established charter business. Without this program, you would sacrifice substantial tax savings. Reduced income potential, personal use dilemmas, and loss of many services would also result. If you are going to buy a boat for charter, why not do it in the most rewarding manner?
You can use your boat for your summer vacation, long weekends, casual afternoons and almost any time you like (provided it is not already on charter). The cost of your vacation can be as low as 10% to a maximum of 50% of published rates depending on time of year and / or when you book.
Our initial term under the Management Agreement is for a period of five years and simply renews automatically each subsequent year up to a maximum of 12 years. If, for personal reasons, you want to remove your houseboat, just give us written notice one year in advance. Virtually all of our pioneer investors are still with us (the earliest since 1984) and some have added two and three houseboats to the fleet.
You choose the name for your boat that will be used during registration with Ships Registry and will be affixed to the houseboat.
No - your charter business is set up to be operated completely at arm's length. Waterway looks after all aspects of chartering and maintaining your houseboat.
Call today for an appointment (or drop by) to discuss this opportunity and view the houseboats available.
Select the houseboat model that meets your tax shelter and personal requirements.
- Place your order with a deposit.
- Pick a name for your houseboat.
- Fill out a financial application and let a Waterway sales representative assist you in arranging up to 85% financing on approved credit.
- Relax while Waterway looks after all of the details.
- Celebrate!
