RE:RE:RE:RE:RE:RE:Please JM take you your wife and your daughter and resign KelownaClown wrote: Petespipe wrote: LongDollars wrote:
Although I don't agree with THC renting space from both the CEO and CFO because I see it as a conflict of interest, it's actually not as bad as you guys make it sound. For a growing business it actually makes more sense to rent property and they can write alot of it off come tax time as it is a business expense. If I recall the the rent isn't outrageous either (I think I read$2450)
Yes, that's the way I read it. Shareholders are also investing in Kelowna real estate. We are paying for a mortgage, correct me if I'm wrong
It's both - THC is both renting / leasing, and owns some properties. They're leasing some units in 2550 Acland (from the CEO/CFO), and some the company owns and has mortgages on (the downtown locaiton and other units at 2550 Acland).
But guys, regarding the rental/lease amounts, check the report - the $2500 per month rental / lease charge is for ONE unit, it's not the total !!
I get that but what is the alternative? They buy another unit for for over $500,000 in the same building and pay an interest rate of 10% on a mortgage. I'd rather see them pay the rent at approximately 25-30k/year to themselves with a tax break than shell out over 50k in just interest on the loan to the bank.