The federal government's decision to give Canadian Real Estate Income Trusts (REITs) the opportunity to increase foreign investment holdings and receive more revenue abroad while maintaining their REIT status may be good news, however income trusts are now responsible to fulfill the government's criteria for REIT Exception by 2011.
This means that REITs must establish strong governance structures, audit committee membership and protocols to ensure legal and statutory obligations are discharged effectively to maintain their status.
How we can help
PricewaterhouseCoopers' Real Estate practice understands all aspects of dealing with a REIT. We work with some of the largest REITs in Canada. We have a dedicated team of objective auditors and business advisors who provide guidance on regulatory, reporting, accounting and tax matters.
We have the experience to help your REIT meet its growing needs — locally, nationally and internationally. We are dedicated to working with you to achieve solutions to your current and future issues through sound business advice on such things as the structuring and accounting for transactions, review of internal controls and tax planning.