Archive for the ‘real estate’ Category
20 Planning Ideas for the Real Estate and Construction Industry During COVID-19
For real estate and construction businesses, whether concerned with cash flow now, or planning for recovery and future opportunities, tax planning ideas are well worth your time. In April, we held a series of real estate and construction webinars focused on preparing and responding to COVID-19: Real Estate & Construction Industry: Cash Flow and Tax […]
COVID-19: Cash Flow and Incentives for the Real Estate and Construction Industry
Updated May 22, 2020 – The cash flow management and government incentives available for the real estate and construction industry for the COVID-19 crisis can provide relief. Right now, business owners are concerned about safety, cash flow and economic survival. The rules governing these programs, though, are changing regularly. Below, we have provided a summary […]
Choosing a real estate accountant
When it comes to real estate accounting services, you want the right professionals working with your business to deliver real estate tax knowledge that supports your best interests. While assessing the best fit for a new real estate accountant, it’s important to choose an industry specialist over a generalist. Why? Because those who live and […]
Short-term rentals: Top GST/HST questions answered
Short-term rentals have seen a noticeable increase in popularity the last few years. Whether people decide to rent out their homes while on vacation, buy a block of properties to use for AirBnB, or share their cottage on the weekends, the demand for short-term and weekend getaways is ever-present. Plus, there’s often more money to […]
Ontario Housing Supply Action Plan: Positive changes for real estate developers and rental providers
The Ontario government Ontario Housing Supply Action Plan proposed changes to address barriers getting in the way of a new rental and ownership properties on May 2, 2019. Recommendations of industry experts like BILD and OHBA influenced this new government policy. The recommendations are centered on themes of speed, cost, mix, rent, and innovation. Overall, […]
B.C. condo registry: What can property owners expect?
In an effort to address housing affordability in British Columbia, and catch unreported tax revenues in the condo market, the provincial government has introduced a real estate condo registry. The condo registry was created to regulate pre-sale property flipping and help reduce tax evasion in the B.C. real estate market. Our real estate and construction […]
2019 Federal Budget: Impact on real estate and construction
Like many other industries, those in real estate and construction are affected by the 2019 Federal Budget update. A general synopsis of the budget can be found here. Many business owners and investors are aware of the seemingly never-ending series of budget deficits. This is particularly ironic given that government and other organizations encourage Canadians […]
U.S. tax reform & real estate: Tips for Canadian investors
Given the U.S. tax reform in 2018, we’ve been providing extensive advice on U.S. purchases being made by Canadian real estate investors. Indeed, they are by far the largest investors into U.S. real estate, contributing roughly USD$20 billion per year. So they must ensure they’re properly navigating the U.S. Tax Reform changes to protect these […]
What to watch with trust agreements and GST/HST New Housing Rebates
The need to carefully consider who is entitled to the GST/HST New Housing Rebate has been emphasized in recent court cases involving trust agreements. A trust agreement is an agreement between two parties where one party has done something on behalf of the other. We see these agreements in real estate where an individual has […]
Real estate audits – CRA renews its focus on the industry
We have been warning for many years now that the Canada Revenue Agency (CRA) has been placing a renewed focus on real estate audits. These real estate audits can cover real estate investors, realtors, developers, and contractors, among others, across the country. This is resulting in a significant uptick in taxes and penalties for those […]
