Tax
Canadian Property Management
B.C. budget promises cost relief measures
B.C.'s 2024 budget introduces a 12-month electricity rebate, estimated at 4.6 per cent of annual consumption costs, and a six-year pause on property transfer tax for new purpose-built rental housing, beginning in 2025.
Canadian Property Management
CRA to be disabused on investment tax credits
Recent court rulings give Canada Revenue Agency leeway to apply an unintended interpretation to the interest-free and low-interest loans that federal, provincial/territorial and municipal governments offer.
Canadian Property Management
REITs unexpectedly tapped for new tax measure
Advocates for the Canadian commercial real estate industry are asking the federal finance department to clarify why real estate investment trusts have been included in a pending new tax measure.
CondoBusiness
Rules for first home savings accounts unveiled
As proposed, Canada’s first home savings accounts (FHSAs) would share features with both registered retirement savings plans (RRSPs) and tax-free savings accounts (TFSAs),
Canadian Property Management
Cogeneration systems to lose tax enticement
The 2021 federal budget adds some clean energy equipment to immediately qualify for accelerated capital cost allowance, and names various combined heat and power applications to be delisted after 2023.
Canadian Property Management
Quebec cuts small business corporate tax rate
The 2021 budget also introduces a temporary doubling of the C3i tax credit for expenditures on computer hardware, management software or manufacturing and processing equipment.
Canadian Property Management
Ontario doubles tax credit in tertiary markets
Canadian-controlled private corporations are eligible for refundable tax credits of up to $90,000 for building investments in southwest, eastern and northern Ontario.
REMI Network
Virtual World Tax Summit to emanate from Montreal
More than 100 speakers will participate in the sixth annual conference, bringing together multi-sectoral perspectives on international tax competition and cooperation.
Canadian Property Management
Deferrals should address GST/HST remittances
Tax specialists are reminding commercial landlords that rent deferrals could have flow-through implications for required GST/HST remittances to the Canada Revenue Agency.
Canadian Property Management
Proptech qualifies for new Quebec tax credit
The tax credit applies on purchases of computer hardware, management software or manufacturing/processing equipment made before January 1, 2025.
CondoBusiness
New fees and taxes spell Alberta revenue boost
New budget announces plans to double various land title fees, apply the 4 per cent tourism levy on online short-term rental transactions and bring all public sector pension fund investment management back under AIMCo's purview.
Canadian Property Management
Toronto weak among Amazon HQ2 contenders
Punditry emanating from the United States characterizes Toronto as an outlier on the short list or overlooks it entirely.
Canadian Apartment Magazine
Sask resumes PST on energy-efficient appliances
Saskatchewan landlords and developers face a six per cent increase in the price of energy-efficient appliances since the provincial government resumed collecting sales tax on previously exempt products.
CondoBusiness
Quebec and Newfoundland proffer homebuyer funds
Provincial budgets, released in both provinces on March 27, outline different approaches to financial assistance that's projected to benefit about 430 recipients in Newfoundland and 47,000 in Quebec.
Canadian Apartment Magazine
Manitoba nixes tax break for new rental housing
Developers of purpose-built rental housing in Manitoba are losing a tax credit that has been available for the past five years.
Canadian Apartment Magazine
Investment property imperils preferred tax rate
The new rules capture the demographic of investors who own small low-rise residential or mixed-use commercial-residential buildings as a sideline to their main business ventures.
Canadian Property Management
Small tax perk for businesses extended to 2025
Claimants gain five more years of accelerated deductions on the capital cost of qualifying renewable energy systems and energy conserving equipment.
