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As one of 16 measures introduced under "Ontario's Fair Housing Plan", the Ontario government has announced the introduction of a non–resident speculation tax (NRST) effective April 21, 2017.

It is no surprise that British Columbia's Budget (announced February 20, 2018) strives to promote affordable housing and cool the real estate market in key urban areas, with particular focus on foreign purchasers.

On February 20, 2018, the Hon. Carole James, Minister of Finance and Deputy Premier, introduced the 2018 British Columbia Provincial Budget.

For taxpayers that have bought and sold homes, particularly if they work in construction or real estate, a CRA housing audit is undoubtedly around the corner

On Monday, July 25, 2016, the BC government announced legislative amendments to the Property Transfer Tax Act.

The Property Transfer Tax Act (British Columbia) could soon be amended to impose property transfer tax ("PTT") on beneficial transfers of real estate.

As of January 1, 2017, there are new land transfer tax ("LTT") tax rates applicable to the purchase of land (residential and commercial) in Ontario.

The City of Toronto's Vacant Home Tax portal officially opened on November 1, 2024, for the purposes of declaring the occupancy status of residential properties for the 2024 taxation year.

Are there withholding taxes on my rental income? Yes. Any person remitting rents to a non-resident is required to withhold and remit to the Canada Revenue Agency ("CRA") 25% of the gross rents paid.

On May 16, 2020, the Province of Manitoba announced a new tax increment financing program called the Manitoba Works Capital Incentive (the "MWCI").

The Canadian tax system has what is referred to as the ‘principal residence exemption.'

On November 9, 2021, City of Toronto Council approved official plan and zoning by-law amendments to implement inclusionary zoning (IZ).

The British Columbia government has released further details about the Speculation Tax on residential property announced in the 2018 Provincial Budget (the highlights of which are discussed in our previous blog post).

On March 27, 2023, the Federal Government of Canada announced amendments to the Regulations accompanying the Prohibition on the Purchase of Residential Property by Non-Canadians Act...

It is a general rule that a sale of a capital asset (such as real property) will trigger tax in the hands of the seller on any gains.

On February 20, 2018, the current BC Government introduced its 2018 British Columbia Provincial Budget (the "Budget") which contained a number of measures targeting the local real estate market.

In Canada, resident sellers of a principal residence are usually eligible for an exemption from the capital gains tax that would otherwise be triggered by the sale of a principal residence. On the other hand, non-resident sellers must pay a capital gains tax of 25% on the profits from the sale of a residential property.

The Ontario Government began to tax beneficial transfers of real property in Ontario under the Land Transfer Tax Act on July 19, 1989.