Posts Tagged ‘GST/HST’
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 […]
Limited Partnerships: GST/HST Changes Proposed
Is a limited partnership part of your real estate business structure? If so, changes may be coming to your GST/HST obligations. The 2018 Federal Budget will impact GST/HST and its application on limited partnerships (LP) that are now defined to be “investment limited partnerships”. Investment limited partnerships, or ILPs, are a newly defined entity. Last […]
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 […]
Understanding GST/HST Housing Rebates
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 […]
