Archive for the ‘GST’ Category
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 […]
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 […]
Q&A: Is HST applicable on a rental property if commercially zoned but all units are residential rentals?
Question: We are investigating the purchase of a rental property in an Ontario town, and have a quick question about the HST. The property is presently set up as four residential rental units, but it is zoned commercial. From conversations with the city, apparently the property is to include three residential and one commercial unit. If […]
GST/HST tax is an area where real property owners and sellers have many questions. “With increased property values, HST is becoming a bigger issue on the sale of real property, including farmland. See the referenced article for some of the issues to consider when buying or selling real property,” says Scott Merry, CPA, and Senior Manager […]
Canada Revenue Agency is providing access to more and more services online, and, given the recent closings of a variety of in-person desk-services at office across the country, they are expecting all of us to “get with the times” and get online too. The best part is that these online services make it convenient to […]
We’ve now seen some of the provinces come through with their budgets and as a general rule there are certainly financial concerns, dealt with by tax increases (direct or indirect) and spending cuts. With the federal budget (on the first day of the real March Madness games) we are faced with much of the same […]