I've been assuming that it's on your turn only.

I believe the order is specific in this regard. On your turn you 1) roll dice, 1a) resolve taxation if applicable, 2) get paid, 3) play card and money, 4) draw card.

If it's not your turn you only participate in parts 1a) and 2)

I don't think it matters too much, but I play that once its your turn (ie after your opponent has drawn their card), you may add to developing properties (I also play that you can trade resources also).

I'm a very risk adverse gamer in general so that's just how I like to play my games.

Are there any problems with this?

Yes, sorry I had originally written that this is a variant, but must have deleted that statement when editing the reply. It was actually mistake/variant but I didn't realize it until re-reading the rules when responding to the thread.

I was talking about this with Cristyn, and she thinks that the rule as written is important. Here's why: When playing, she always keeps 1 token of each suit available. That way, regardless of what she draws at the end of her turn, she know she will be able to buy the deed for it next turn. On the other hand, I often put all the tokens of some suits onto deeds.

Her strategy puts her at a small risk of taxation (if she gets income on my turn and rolls taxation on her next turn); my strategy puts me at a risk of not being able to buy the deed next turn for the card that I draw at the end of this turn (if I draw a card that requires a resource I've committed to the deed-in-progress and don't get any income in those suits before my next play). With the proposed variant, the choice between these two strategies would just go away - hers would involve no risk, so it would always be the thing to do.

And with that statement, I just realized something that I have played wrong (but actually explained right in my video).

Example: You have five yellow resources. Four of them are on a deed. One is in your personal supply. You roll the dice, and are taxed on yellow. The resources on your deed are protected, but you lose the one in your supply. I'm not actually sure I have played this wrong... yet. But, I think it may have come up in a game last week.

Neither of us have been paying attention to the resources on our deeds (only those in our stash), when it comes to taxation.

Any player who has more than one of that resource must immediately discard all but one. Note that resources already spent to develop properties are not effected.

Ah. I see the source of the misinterpretation [and it could lead to an even more awkward situation]: The word "effected" rather than something like "counted" or "taken into account" at the end of that rules snippet.

It's interesting, as the game becomes more popular, to discover places where the rules are just a shambles.