Canada’s one stop platform and the #1 National voice to the rental housing industry

Legislation

Budget 2018 – Tax Changes for CCPCs

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

Budget 2018 – Tax Changes for CCPCs

Budget 2018 introduced a better, less complicated approach to address the tax deferral advantage from accumulating surplus savings in a Canadian controlled private corporation (a “CCPC”). These new amendments abandon the complex suggestions made in the consultation paper released in July 2017, which included a “super-tax” of up to 73% on “second generation income.” The latest proposal will be better for most investors than the earlier proposals. The budget proposes two new measures applicable...

read more

B.C. Budget 2018 – Purpose-Built Rental Exempt from New School Tax

Posted in Association News, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation

B.C. Budget 2018 – Purpose-Built Rental Exempt from New School Tax

On Tuesday, February 20th, 2018, the Honourable Carole James, Minister of Finance and Deputy Premier for the Province of British Columbia tabled her NDP Government’s first budget since assuming power July 2017 (a budget update was presented in the legislature September 2017).  Since the BC NDP formed government with the support of the Green Party, there has been considerable pressure on the government to address the sever housing affordability crisis affecting so many people across the...

read more

From tax cuts to energy action: 8 business leaders share their budget wish lists

Posted in Appraisal, Bylaws / Regulations, Communications, Employment, Finance, Housing, Industry Trends, Legislation, Newsworthy

From tax cuts to energy action: 8 business leaders share their budget wish lists

After a year of challenges and controversy, Finance Minister Bill Morneau is gearing up to deliver his third budget. Morneau has come under fire in the last year over his handling of small business tax changes, and running deficits amid major economic uncertainties like NAFTA – issues Bay Street hopes the finance minister will address when he delivers the budget on Tuesday. As the day approaches, business leaders and money managers have shared their budget wish lists with BNN. Here’s some of...

read more

Canada’s Pot Industry Is Hungry for Real Estate

Posted in Appraisal, Bylaws / Regulations, Communications, Development, Health & Safety, Industry Trends, Legislation, Newsworthy, Real Estate Law

Canada’s Pot Industry Is Hungry for Real Estate

Canada’s industrial real estate sector is as hot as it’s ever been and the legalization of recreational pot will only add to the demand. The country’s eight biggest weed companies will require more than 8 million square feet of space for growing marijuana by 2020, up more than fivefold from current levels, according to a report from brokerage Jones Lang LaSalle Canada. The estimate, which excludes logistics and distribution centers, would be about the size of Amazon.com Inc.’s Seattle...

read more

Bay Street calls on Morneau for plan to balance the budget

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

Bay Street calls on Morneau for plan to balance the budget

Bay Street wants Morneau’s budget to avoid tax hikes, new spending: BNN survey Federal Finance Minister Bill Morneau needs to hold the line – or even cut – federal taxes and get spending under control in his upcoming budget, according a BNN survey of Canadian economists, portfolio managers and corporate executives. “If they hike taxes they may as well shut down the country, we are done,” said Greg Taylor, portfolio manager at Redwood Asset Management, in the online poll conducted earlier this...

read more

Visions of Pot Fumes and Steamy Grow-Ops Spook Canada’s Landlords

Posted in Bylaws / Regulations, Communications, Fire Safety, Health & Safety, Housing, Industry Trends, Insurance, Interior Building, Legal, Legislation, Maintenance, Newsworthy

Visions of Pot Fumes and Steamy Grow-Ops Spook Canada’s Landlords

Canadians will soon be able to add marijuana to their collection of household herbs, and that’s creating a nightmare for the country’s landlords. With Prime Minister Justin Trudeau set to legalize recreational weed in July, apartment owners are concerned about safety and potential damage to their buildings if tenants grow plants and smoke up in their units. Landlords are lobbying provincial governments for legislation that would ban marijuana use in rental units or allow them to add...

read more

Province Releases Mandatory Lease Form. Implementation Date: On and After April 30, 2018

Posted in Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Legal, Legislation, Maintenance, Newsworthy, Payments Processing, Professional Services, Real Estate Law, Tenancy Law

Province Releases Mandatory Lease Form.  Implementation Date: On and After April 30, 2018

As expected, Ontario has introduced the mandatory “Prescribed Lease” to be used for all standard apartment rental units and tenancy agreements which are entered into on and after April 30, 2018.  This means that Landlords will have a very short time frame within which to change their administration process and implement the new form for new tenancies.  Here is a link to the “Standard Lease” form for your review: Standard Lease Agreement You may download a fillable...

read more

Preparing your Condo for Marijuana Legislation

Posted in Bylaws / Regulations, Communications, Health & Safety, Housing, Industry Trends, Insurance, Interior Building, Janitorial, Legal, Legislation, Newsworthy, Real Estate Law, Tenancy Law

Preparing your Condo for Marijuana Legislation

A recent CBC article discussed tools that some Ottawa condo corporations are using to address the upcoming legalization of marijuana. You can read the full article here: CBC: Gloucester Condo Marijuana Smoking Ban Each condominium community is different. Some condo corporations may not feel any new rules are necessary, while others may want to impose restrictions on marijuana use. Each Board should consider their own community and whether new rules are needed to promote the safety, security...

read more

Canada Sold $1.2 Billion Of Weed To The World Last Year, StatCan Says

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

Canada Sold $1.2 Billion Of Weed To The World Last Year, StatCan Says

The domestic pot industry is as large as tobacco, beer and wine combined. A new, provisional estimate by Statistics Canada suggests $1.2 billion worth of cannabis produced in Canada last year was illegally sold outside the country. The federal agency is releasing fresh cannabis-related figures as it tries to assess the magnitude of the black market in preparation for Ottawa’s expected plan to legalize recreational weed later this year. The report says about 20 per cent of the pot...

read more

RTA Changes: New Legislation Introduced

Posted in Bylaws / Regulations, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Maintenance, Newsworthy, Real Estate Law, Tenancy Law

RTA Changes: New Legislation Introduced

Further to the government’s announcement last Thursday that included the elimination of the 1991 Exemption on rent controls for new rental units, this afternoon the Minister of Housing introduced legislation that amends the Residential Tenancies Act. This bill, if passed, will expand rent control to all private rental units effective as of April 20, 2017 including those occupied on or after November 1, 1991; enable a standard lease; make changes to landlord’s own use eviction provisions;...

read more