Business Expenses for Real Estate Agents
Following the Bank of Canada's decision to continually raise interest rates in 2022, real estate activity has been muted, with fewer homes changing hands...
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Canadian Foreign Affiliates, FAPI, and Upcoming Legislative Changes
On August 9, 2022, Canada’s Ministry of Finance released details of proposed changes to the Income Tax Act ("ITA"), many of which are drafted to take effect...
Read More Is Tax-Free EU Shopping Actually Tax-Free for Canadians?
To better attract tourism, the European Union (EU) offers VAT-free shopping for non-EU citizens. VAT is what Europeans call our GST/HST and means value...
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Investing in Canada as a Non-Resident for Tax Purposes
Whether it’s foreign investment in a booming housing market, a trend towards remote work and flexible employment options, or Canadian citizens looking to...
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New Rules for Principal Residences Sold Within One Year
On April 7th, 2022, the Federal government proposed “anti-flipping” rules to house sales within 12 months. Prior to this, many individuals bought and sold...
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Real Estate Assignment Sales – New Tax Rules
The Federal Budget for 2022 has made amendments to Part IX of the Excise Tax Act (“ETA”). Effective May 7, 2022, all assignment sales in respect of newly...
Read More Capital Gains – Canadians Selling U.S. Real Estate
The housing market in the U.S. has skyrocketed over the past few years due to shortages in the supply of homes, increasing demand, and rising interest...
Read More Is the CRA Allowed to Criticize Business Practices?
The Canada Revenue Agency (“CRA”) was recently faulted for encroaching and inappropriately second-guessing the Appellants’ business practices in Jackman v...
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