Creative Reuse: The Opportunities and Challenges of Converting Office Space to Residential
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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