Archive for the ‘news’ Category

Attack on small, family business tax: What you can do

Posted on: September 11th, 2017 by Real Estate Accountants No Comments
Corporate Tax Planning proposals announced by Liberal government attack on family business and investors

Since the government released proposals on July 18th that attack the corporate tax planning that small business, family business, entrepreneurs, and real estate investors use, we have been asked by many of our clients and contacts: What should we do? If you’re concerned about the government’s tax planning proposals read on for actions you can […]

Tax planning proposals: Letter response to attack on family, small business

Posted on: August 9th, 2017 by Real Estate Accountants 2 Comments
Letter to MP, MPP on tax planning proposals

With the federal government’s recent release of a series of tax planning proposals(see Tax Planning Using Private Corporations), they read squarely as an attack on small business, family business, and real estate investors. We have discussed the impacts of these tax planning proposals in detail both on this blog, and through a detailed article and […]

Corporate tax planning proposals attack on family businesses, investors

Posted on: July 25th, 2017 by Real Estate Accountants 7 Comments
Corporate Tax Planning proposals announced by Liberal government attack on family business and investors

Business owners were warned in the 2017 Federal Budget that discussion papers were coming to consider corporate tax planning. But with the release of the Liberal government’s Tax Planning Using Private Corporations proposals on July 18, few advisors dreamed of the level the government would attack small business owners, family businesses, and investors. Not only […]

GST/HST Pitfalls of Buying Real Estate “In Trust”

Posted on: June 23rd, 2017 by Real Estate Accountants No Comments
GST/HST and buying real estate in trust

Who pays the GST/HST can be tricky to answer on real estate purchases, especially when done “In Trust” for another corporation. A recent court case, 225493 Ontario Limited vs the Queen, provided some direction on this situation, and an expensive lesson learned for the vendor of the property. Background on buying “In Trust” case The […]

Ontario’s Fair Housing Plan – Round-Up

Posted on: May 3rd, 2017 by Real Estate Accountants No Comments
Ontario's Fair Housing Plan

Ontario’s Fair Housing Plan, and its potential impacts on real estate markets not only in the GTA but across Canada, has been dominating the conversations of real estate and construction industry members. We have pulled together a series of articles from BDO Canada around these topics to provide overview and opinion on the latest developments, […]

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 1 Comment
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 […]

7 must-read tax season tips for real estate investors

Posted on: January 24th, 2017 by Real Estate Accountants 2 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 […]