There has been a lot of noise around future real estate property ownership in the Canadian marketplace. There are three major changes to the Canadian real estate investment landscape that should be on your radar to avoid any unpleasant tax-related surprises in the new year. These changes apply whether you are a first time or […]
In the Federal budget on April 7, 2022, they announced a new ban on the purchase of any residential property by non-Canadians (Bill C-19), that should come in effect on January 1, 2023. This ban is for a duration of two calendar years and should end on December 31, 2024, with possibility of renewal. The […]
In the 2021 federal budget, the Minister of Finance announced a new tax law will be coming in effect on January 1, 2022, regarding vacant residential properties owned by foreigners.
In the April 19, 2021 budget, the Federal government announced it will finally move forward with the 1% tax applicable on under-used properties owned by non-residents of Canada, starting in 2022.
Are you a non-resident thinking of buying a Canadian property to either use it personally or to rent out and eventually sell at a profit? Know before you buy, rent or sell, to avoid surprises and maximize your investment.