Saskatchewan PST now applies to property services

Posted on: April 4th, 2017 by Real Estate Accountants No Comments
Tools to renovate

In March, the Saskatchewan government delivered its 2017 Provincial Budget which increased the rate of Provincial Sales Tax (PST) from 5% to 6%. However, more importantly there was a fundamental change in the way Saskatchewan PST will apply to services related to real property. Effective April 1, 2017, the PST applies to services to real […]

Real estate & construction industry: Budget sets sights on business owners & investors

Posted on: March 30th, 2017 by Real Estate Accountants No Comments
Budget 2017 and the Real Estate and Construction Industries

For those in the real estate and construction industries, it’s what wasn’t in the 2017 Federal Budget that should give pause for concern. While money for a national housing strategy is a plus, the potential attacks on key tax planning tools for business owners is worrisome. In contrast to the prior two budgets, this budget […]

The “Canadian” real estate market: 4 key cities

Posted on: February 27th, 2017 by Real Estate Accountants No Comments

Canada is a vast country with many unique regions. The same can be said for the Canadian real estate market. Specific geographic regions have unique qualities that affect the real estate market for investors, construction, and home builders. BDO Canada’s latest gifographic covers four key cities in the Canada real estate market and the qualities that […]

Brownfield development: Factors to consider

Posted on: February 20th, 2017 by Real Estate Accountants No Comments
Brownfield development

Developing “brownfields” – those abandoned or underused places where past activities may have left behind environmental contamination – is a more and more common practice for real estate investors and developers. Why? Brownfields are often located in places that would otherwise be considered ideal for development, including downtowns, waterfronts, and next to residential areas that provide […]

7 must-read tax season tips for real estate investors

Posted on: January 24th, 2017 by Real Estate Accountants No Comments
Tax tips for real estate investors

As a real estate investor, what should your real estate accountant be advising you about for the 2016 tax season, and the coming of 2017? We previously published this post last year, but with changes that have occurred in 2016, we thought it was worth reviewing, and updating with the latest information. 1) NEW for 2016: Principal […]

Principal residence exemption & your 2016 taxes

Posted on: January 17th, 2017 by Real Estate Accountants No Comments
house and key with Calculator on wooden background

In October, the Federal Government created some major headlines when they announced changes to the principal residence exemption rules for Canadian taxpayers. The details of the principal residence exemption rule changes were outlined in this BDO Canada article, but as a real estate investor, what do they mean for you? Starting in 2016, anyone who […]

GST/HST New Housing Rebate: 4 things every real estate investor must know

Posted on: October 27th, 2016 by Real Estate Accountants No Comments
Calculating GST/HST rebates

Receiving a GST/HST new housing rebate can mean a substantial chunk of money back in a real estate investors pocket to re-invest. However, the new housing rebate forms and process has some built-in difficulties that can mean the money that should be coming to you will stay firmly in the government’s hands. While the process […]

3 GST/HST areas to navigate when constructing multi-unit residential buildings

Posted on: September 29th, 2016 by Real Estate Accountants 4 Comments
Paperwork

GST/HST issues surrounding building multi-unit residential complexes are questions that have a large impact on cash flow and costs. Savvy real estate investors and builders coordinate the intricacies of GST/HST issues with their real estate accountants as  a matter of course to avoid surprises. Builders and investors must consider at least three GST/HST areas when constructing a residential […]

Secondary suite income: Principal residence exemption and CMHC rules one year later

Posted on: August 31st, 2016 by Real Estate Accountants No Comments
Building blocks

Now that about a year has passed with CMHC allowing income from secondary suites to be counted for mortgage qualification purposes, as real estate accountants we’re still covering questions regarding this. The most common ones being: Does having a portion of your home rented through a secondary suite void the use of the principal residence […]

Moving real estate to corporate ownership: 7 tips you need to know

Posted on: July 27th, 2016 by Real Estate Accountants 6 Comments
Real estate investors discuss with real estate accountants whether properties should be moved to a corporation

The number one question for real estate accountants after “should I incorporate” is “can I move my properties to my company from my personal name?” Moving your personally owned rentals is not a “moving job” that should be undertaken without a great deal of thinking ahead and planning. You must ensure your real estate accountant, lawyer, and […]