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A summary trial for what is likely to be a landmark case for Canada in residential real estate is currently underway in British Columbia ("BC").

In an Advance Income Tax Ruling in 2020,the Canada Revenue Agency considered the issue of substituted property in the context of a reorganization involving a stock dividend.

In a recent decision by the Tax Court of Canada (the "TCC"), Coopers Park Real Estate Development Corporation v. His Majesty The King, the court was asked to consider the scope of documentary discovery and, specifically, the impact of solicitor-client privilege upon parties' disclosure obligations regarding communications and materials provided by third party advisors.

Owners or tenants of commercial/industrial property in Ontario should be aware of recent increases in property tax assessments made by Ontario’s assessing authority, the Municipal Property Assessment Corporation.

The Internal Revenue Service and U.S. Treasury Department have proposed regulations (the Proposed Regulations) that would expand FIRPTA relief for domestically controlled REITs by repealing the corporate look-through rule introduced by final U.S. Treasury regulations issued in April 2024.

On July 25, 2016, the government of British Columbia introduced Bill 28, Miscellaneous Stat¬utes (Housing Priority Initiatives) Amendment Act, 2016 (the "Act"), seemingly in answer to the growing...

The provincial government announced earlier today, July 25, 2016, that foreign buyers of residential real estate in the Greater Vancouver Regional District (excluding Tsawwassen First Nation lands) will be subject to an additional property transfer tax of 15% of the fair market value of a foreign entity's proportionate share of property.

On March 26, 2024, the Ontario provincial government unveiled the 2024 Ontario Budget: Building a Better Ontario ("2024 Budget"). Among other things, the 2024 Budget deferred the next property tax reassessment indefinitely.

On July 14, 2017, the Ontario Ministry of Finance announced a review of the land transfer tax applicable to unregistered dispositions of beneficial interests in land for the stated purposes of improving...

On March 25, 2020, the Ontario Government announced new tax relief measures to respond to the COVID-19 pandemic.

Earlier this week, the CRA released the revised Foreign Income Verification Form as had previously been announced by the Federal government in their 2013 Budget.

On October 31, 2023, the Government of Canada announced that it will waive penalties and interest for any late-filed 2022 Underused Housing Tax ("UHT") returns and late...

When we first met Miss Take a couple of years ago, she had made the unfortunate error of borrowing to acquire a new principal residence.

Ontario property owners are receiving notices of assessment this year that will serve as a basis for tax collections in 2017 through 2020. Values are set by the MPAC based on estimated market values.

At first glance, renting out a home seems to have simple tax consequences; if you made positive income, you should pay tax on it.

With the COVID-19 pandemic resulting in business closures across British Columbia (BC), both the BC and federal governments are taking steps, including those to address real estate-related concerns, to support businesses struggling with the economic fallout of COVID-19.

Many real estate lawyers doing residential real estate no doubt deal with first time home buyers