Tax Insights: Ontario imposes new 15% tax on foreign buyers of residential property
Foreign purchasers of residential property in the Greater Golden Horseshoe will be liable for a new 15% non-resident speculation tax. The new tax will apply to agreements of purchase and sale signed after April 20, 2017. It will apply in addition to Ontario’s general land transfer tax and Toronto’s land transfer tax.
Tax Insights: BC provides some foreign buyers relief from 15% property transfer tax
On March 17, 2017, BC announced relief from its 15% foreign buyers’ property transfer tax
Emerging Trends in Real Estate®
In this year’s report, we provide insights into various facets of Canada’s real estate market, as well as analysis of some of its key urban centres.
Tax Insights: Ontario changes Land Transfer Tax and Ontario Interactive Digital Media Tax Credit rules
On November 14, 2016, Ontario delivered its 2016 Economic Outlook and Fiscal Review.
Tax Insights: Canada targets trusts and non-residents holding residential property
“To improve tax fairness for Canadian homeowners,” the Department of Finance released a Notice of Ways and Means Motion on October 3, 2016, that targets trusts and non-residents owning residential property.
Tax Insights: Selling your home? Reporting is now required
Starting with the 2016 taxation year, if you sell your principal residence, you will be required to report certain information on your income tax return for the sale to be tax-free.
Tax Insights: BC imposes new 15% tax on foreign buyers of residential property
Foreign purchasers of residential property in the Greater Vancouver Regional District will be liable for a new 15% property transfer tax. The new tax will apply on transfers registered after August 1, 2016, regardless of when the contract of purchase and sale was entered into. It will apply in addition to British Columbia’s general property transfer tax.
Tax Insights: 2016 Federal budget – Failure to properly report grandparented sales of new housing – act now for relief
The March 22, 2016 federal budget provides relief related to GST/HST reporting of grandparented sales of new housing. This change allows the real estate industry to eliminate exposure to severe penalties for failure to properly report these sales.
Tax Insights: Partnership exemption for Ontario land transfer tax retroactively eliminated for trusts and partnerships
On February 18, 2016, the Ontario Ministry of Finance introduced certain retroactive amendments to Regulation 70/91 under the Land Transfer Tax Act (the Amendments).
Canadian cities draw foreign investors
The real estate market in major Canadian cities such as Toronto and Vancouver continues to flourish thanks to growing interest from developers, investors and buyers, both domestic and international. Henry Cao, President of Greenland Group Canada talks to Up front about their decision to invest in Canada and why Canadian cities are in favour.
Real Estate 2020: Building the future
The Canadian real estate industry has seen unprecedented growth in the past decade and only recently has the level of general transaction activity slowed in pace.
Insights from Emerging Trends in Real Estate 2013: Canada’s continuing equilibrium
In a world struggling to manage unprecedented debt levels and economic upheaval, Canada enjoys a stable real estate economy.
From the ground up – Emerging Trends in Real Estate 2012: Development Prospects in Canada
This report, a supplement to our Emerging Trends in Real Estate 2012 publication, highlights development prospects in Canada culled from interviews among more than 100 survey participants.