In the Name of Transparency
IN THE NAME OF TRANSPARENCY As a part of its election platform mandate, the British Columbia NDP stated that they would make housing more affordable by fighting against foreign investment, speculators and gaps in current regulations and legislation that allow for advantages to be abused. Earlier this year the minister of finance, the Honourable Carole […]
Own Residential Property in Vancouver?
If you own residential property in the City of Vancouver, and you received a tax notice from the City in March advising that your property is subject to the City’s new Vacancy Tax, you only have until Monday, April 16, 2018, to appeal the decision or face a heavy tax bill. Backgrounder As a way of addressing […]
THE INTENT: REAL ESTATE DISPOSITIONS
Be clear with your intent, especially when it comes to real estate. Given the new levels of heightened scrutiny by the Canada Revenue Agency (“CRA”) here in B.C., where real estate transactions are being targeted, it would be wise not to try and “cheat” the tax-man. It is amazing how many individuals do not report […]
THE CALM BEFORE THE STORM
“YOU’RE not a Capitalist”, the words rang out across the kitchen table, breaking the silence and nervous ticking of an old clock. “You’re a walking contradiction.
A Summer of Discontent for CRA
One of the big stories of the year locally has been the red-hot real estate market that suddenly recoiled after the provincial government made a simple change in legislation. It worked so well that it will probably boost re-electability of the current Liberal government. It is a perfect example of how a change in tax […]
BEWARE OF THE FLIP
In one of our previous articles we highlighted an area of GST compliance with regards to the rental rebate and how it might affect the average Joe. Given recent provincial regulation with regards to shadow flipping and the new 15% tax on foreign buyers, one would think that it is just a matter of time […]
