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Tax Law

Federal Government must be smoking something: Provinces balk at Ottawa’s marijuana tax plan

Posted in Bylaws / Regulations, Communications, Health & Safety, Industry Trends, Legal, Legislation, Newsworthy, Tax Law

Federal Government must be smoking something: Provinces balk at Ottawa’s marijuana tax plan

Provincial leaders say they are not impressed with the federal government’s proposal to evenly split excise tax revenue from marijuana sales. They say that type of tax distribution would simply be unfair, given the extra costs provinces will end up shouldering as they prepare for the legalization of recreational cannabis in July of 2018. “The federal government must be smoking something to think it will work for the provinces,” said Alberta Finance Minister Joe Ceci, while speaking to...

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Federal corporate tax reform update

Posted in Bylaws / Regulations, Communications, Employment, Finance, Industry Trends, Legislation, Newsworthy, Tax Law

Federal corporate tax reform update

By John Dickie, President, Canadian Federation of Apartment Associations (CFAA) Between October 16 and 20, the Federal Government announced a decrease to the small business tax rate, and changes to its corporate tax reform proposals for Canadian-controlled private corporations (CCPCs), which were originally released on July 18, 2017. In October, the Government stated that it will not move forward with the proposed changes to restrict the use of the lifetime capital gains exemption by several...

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Is Ontario’s Fair Housing Plan working?

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Employment, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law, Tax Law, Tenancy Law

Is Ontario’s Fair Housing Plan working?

The Ontario government says recent home-sales data suggests its Fair Housing Plan is improving affordability in the province, but not all market observers are showing the same support for the 16-point policy move first announced this April. “While experts agree that it is too soon to tell, the numbers suggest that the housing market is moving in a more stable direction — making it easier for families and first time buyers to get into the market, while protecting the investment of homeowners,...

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Morneau to unveil tax plan changes in wake of fierce backlash

Posted in Bylaws / Regulations, Communications, Finance, Industry Trends, Legislation, Newsworthy, Tax Law

Morneau to unveil tax plan changes in wake of fierce backlash

Finance Minister Bill Morneau will brief Liberal backbenchers Monday on changes he’s making to proposed tax reforms that sparked a fierce public backlash. Sources, who weren’t authorized to speak publicly, say a special briefing early Monday morning is aimed at demonstrating to anxious Liberal MPs that Morneau has heard the concerns about his tax reform plan. The proposed reforms were intended to put an end to measures which Morneau contends have allowed wealthy individuals who...

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I Don’t Envy The Politician Who Tries To Sort Out Canada’s Housing Mess

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Health & Safety, Housing, Industry Trends, Legislation, Real Estate Law, Senior Housing, Student Housing, Tax Law, Tenancy Law

I Don’t Envy The Politician Who Tries To Sort Out Canada’s Housing Mess

Ensuring adequate shelter. Safeguarding homeowners’ value. Protecting the environment. I do not envy politicians. It seems like every decision our elected officials make, thousands of people immediately attack their keyboard, criticizing everything about it. Even when a politician’s choice is heavily supported, the vocal minority shouts from the rooftop that this politician doesn’t care, doesn’t understand, or is willfully ignorant of the needs of a certain subsection...

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Toronto home sales plunge 20.3% in wake of Wynne government intervention

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy, Tax Law

Toronto home sales plunge 20.3% in wake of Wynne government intervention

Home sales across the Greater Toronto Area plummeted in May, the first full month of activity since Kathleen Wynne’s Liberal government took aim at the red-hot real estate market. The Toronto Real Estate Board said on Monday 10,196 properties changed hands in May, marking a 20.3 per cent plunge from the same month a year earlier. Facing uncertainty about the long-term impact of the government’s intervention, homeowners heaped new inventory on the market. New listings surged 48.9...

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Most sweeping rent controls in 25 years could end up making Toronto housing more expensive if building halts

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Tax Law, Tenancy Law

Most sweeping rent controls in 25 years could end up making Toronto housing more expensive if building halts

Toronto’s trying to make it more affordable to rent in one of the world’s hottest housing markets. New measures may have the opposite effect. Ontario’s government is set to impose the most sweeping rent controls in a quarter century, linking annual increases to inflation, with a cap of 2.5 per cent, on all buildings as it tries to keep costs under control. The measure, meant to protect tenants from price gouging, could end up making it more — not less — expensive to rent in North America’s...

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5 things to know about Ottawa’s new cannabis legislation

Posted in Bylaws / Regulations, Communications, Finance, Health & Safety, Industry Trends, Legal, Legislation, Newsworthy, Real Estate Law, Tax Law, Tenancy Law

5 things to know about Ottawa’s new cannabis legislation

The federal government has unveiled its plan to legalize recreational marijuana use. Here’s what you need to know about the new legalization, set to take effect no later than July 2018. Age: Ottawa’s new cannabis legislation proposes 18 as the minimum legal age for marijuana use, with the provinces having the ability to raise it. This is in line with the age recommended by the Task Force on Cannabis Legalization and Regulation.  However, the Canadian Medical Association urged Ottawa to set the...

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CFAA breaks down the 2017 Liberal Budget and reports on what you need to kno

Posted in Bylaws / Regulations, Communications, Finance, Newsworthy, Tax Law

CFAA breaks down the 2017 Liberal Budget and reports on what you need to kno

LIBERAL BUDGET 2017,  March 22, 2017 Taxes – No increase in the capital gains inclusion rate Despite the rumours that had been swirling around in business circles, Budget 2017 did not make any changes to the capital gains inclusion rate (CGIR). That rate is extremely important for rental investors of all sizes. The CGIR is currently 50%. Of a capital gain on the sale of a rental property of $100,000, $50,000 is taken into income and taxed at a person’s tax rates. During 2016, the government...

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Ontario puts foreign buyers’ tax back on the table as hot housing market raises alarms

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy, Tax Law

Ontario puts foreign buyers’ tax back on the table as hot housing market raises alarms

A year ago, Ontario’s finance minister said ‘Let market forces prevail’, but now after an almost 30% hike in GTA prices, fears of a housing bubble are sinking in. A foreign buyers’ tax is back on the table in Ontario, with the finance minister saying it’s one possible option he’s looking at to cool the housing market. The average price of homes sold in the Greater Toronto Area last month rose 27.7 per cent over last year, and the average price of a detached home in Toronto is now more than...

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