Tax Memo: Ontario Property Tax Alert
Reduce a significant portion of your corporate tax burden
In Ontario, all properties have been reassessed in 2008 for tax years 2009, 2010, 2011 and 2012. These new assessments coupled with complicated legislative, valuation and tax changes will affect a company's property tax payable.
Unfortunately, many corporations, individuals and other entities lack the relevant experience to determine whether the assessed property taxes incorporate every possible advantage. While companies often spend money reducing their income tax, they may pay little attention to other expenses1, such as property tax, an annual recurring cost that affects both property owners and tenants. It has a large subjective component that can cause significant confusion.
Read the PDF to get started with your property assessment appeal.
¹ PricewaterhouseCoopers' Total Tax Contribution – Canada's tax regime: complexity and competitiveness examines the total tax contribution of large Canadian businesses and considers all taxes borne and taxes collected by organizations, not just income taxes.