News & Analysis as of

Residential Property Owners Canada

Stikeman Elliott LLP

Enhanced GST/HST Rebate for Purpose-Built Rental Housing: Latest Developments

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Incentivizing construction of new rental homes is a key policy priority for Canadian governments. As discussed in an earlier post, the federal Department of Finance issued a news release on September 14, 2023 relating to...more

Bennett Jones LLP

Duty Calls: BCCA Considers Duty of Care Owed by Structural Consultants to Building Owners

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Centurion Apartment Properties Limited Partnership v Sorenson Trilogy Ltd., 2024 BCCA 25 - The British Columbia Court of Appeal (BCCA) recently held that structural consultants have a prima facie duty of care to the owner...more

Bennett Jones LLP

British Columbia Introduces the Flipping Tax—What is it and Why Should You be Aware?

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What is the Flipping Tax and Why is it Important? The B.C. government announced in its 2024 budget a plan to introduce a tax (the Flipping Tax) on income earned from the sale of a property within 730 days of acquisition....more

Bennett Jones LLP

Good Fences Make Good Neighbours—Except When They Don't

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For a good long time, Ontario has had two systems for recording the ownership of real property: the registry system and the land titles system, and in the last few decades has been undertaking the concerted effort of...more

Blake, Cassels & Graydon LLP

Le Canada assouplit les restrictions à l’achat d’immeubles résidentiels par des non-Canadiens

Le 27 mars 2023, le gouvernement fédéral a annoncé des modifications visant à assouplir les restrictions à l’achat d’immeubles résidentiels par des non-Canadiens dans certaines circonstances. Entrées en vigueur le 27...more

Blake, Cassels & Graydon LLP

Canada Relaxes Restrictions on Non-Canadians Buying Residential Property

On March 27, 2023, the federal government announced amendments intended to relax the restrictions on non-Canadians purchasing residential property in certain circumstances. These amendments came into force as of March...more

Rivkin Radler LLP

Foreign Individuals Holding U.S. Real Property, or Left Holding the Bag?

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There have been some interesting developments of late with respect to the ownership of real property in parts of the English-speaking world. For example, Canada has imposed a temporary ban on the purchase of such property by...more

Bennett Jones LLP

New Rules for Foreign Home Buyers in Canada Now In Force: Here's What You Need to Know

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On December 2, 2022, the Privy Council passed an Order in Council confirming regulations related to the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act). The Prohibition on the Purchase of...more

Bennett Jones LLP

Canada's Ban on Foreign Home Buyers Soon In Effect: Update and What's Next

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Key Highlights - - Prohibition on the Purchase of Residential Property by Non-Canadians Act comes into force on January 1, 2023. - Impact of the Act will be clearer once the federal government releases draft...more

Bennett Jones LLP

B.C. Working to Strengthen Protection for Home Buyers

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On November 4, 2021, the B.C. Government announced that it will introduce new legislation that requires a cooling-off period for resale properties and newly built homes. The Ministry of Finance and B.C. Financial Services...more

Bennett Jones LLP

B.C. Expands Property Transfer Tax Exemption for Residential Property Purchases

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On May 3, 2021, by Order in Council No. 277, the Government of British Columbia amended the Property Transfer Tax Regulation, B.C. Reg 74/88. This amendment relates to the application of the additional property transfer tax...more

Blake, Cassels & Graydon LLP

What the New Speculation and Vacancy Tax Act Means for B.C. Real Estate

British Columbia’s Speculation and Vacancy Tax Act (Bill 45) (SVTA) recently received royal assent. As announced in the 2018 provincial budget, the SVTA introduces a tax on residential properties left vacant for six months or...more

Bennett Jones LLP

Property Tax Assessments—Why You Should Respond to Requests for Information

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The Alberta Municipal Government Act (MGA) has been amended to expand the information that an assessor can request from taxpayers regarding preparation of assessments. This expanded legislative scope has the potential to also...more

Bennett Jones LLP

Ontario Modernizing Land Transfer Tax

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On November 14, 2016, the Ontario Minister of Finance, Charles Sousa, presented the 2016 Ontario Economic Outlook and Fiscal Review in the Ontario Legislature. Among the various proposals in the Outlook, the Minister proposes...more

Blake, Cassels & Graydon LLP

Changes to British Columbia Property Transfer Tax

INCREASE IN PROPERTY TRANSFER TAX RATE FOR PROPERTY IN EXCESS OF C$2 MILLION - The Budget introduced a third property transfer rate of three per cent on the portion of fair market value of a property over C$2-million....more

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