On October 24, 2023, the Supreme Court of British Columbia issued a decision finding that additional property transfer taxes of $6,000,000 were payable on a residential property. Both the registered and beneficial owners of the property in question were British Columbia companies and the individuals at the top of the structure were Canadian permanent residents. The ...
This update is further to our first blog post from December 23, 2022 on the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”).
Based on significant industry feedback from across the country with respect to the unintended consequences of the nationwide prohibition on the purchase of residential property by non-Canadians that came ...
Underused Housing Tax Filing Obligations
The filing deadline for the first year of the Federal Underused Housing Tax (“UHT”)[1] is fast approaching. Any owner of residential property in Canada who is not explicitly defined as an “excluded owner” must file a return by April 30, 2023 for each residential property of the owner. The UHT is a 1% tax on the value of vacant or ...
Introduction
Earlier this year, the federal government introduced the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”)[1], which comes into force on January 1, 2023. The stated purpose of the Act is to address Canada’s housing affordability crisis.
The Prohibition
The Act will prohibit non-Canadians from purchasing ...
Canada has recently introduced legislation to implement an Underused Housing Tax (UHT).[1] (You can read our blog on this legislation here) The UHT will apply to non-resident, non-Canadian owners of residential property. As others have pointed out, the UHT contains some unusual policy choices.[2] For example, if the goal of the UHT is to increase housing supply, it should ...
Over the last few months, the Underused Housing Tax Act (the “Act”) has moved through the House of Commons and is currently in the final steps of the report stage. If the Act is ultimately brought into force, it will implement an annual tax of 1% on the vacant or underused residential real estate, directly or indirectly owned by non-Canadians.
Whom does the Underused ...
This blog post is further to our post on the B.C. government’s revised measures for residential landlords and tenants.
On July 16, 2020 the Minister of Municipal Affairs and Housing (the “Minister”) announced a framework for rent repayment once the ban on evictions for the non-payment of rent is lifted on September 1, 2020. A ministerial order implementing the ...
On June 24, 2020, the Minister of Public Safety issued a new ministerial order pursuant to the province’s Emergency Program Act relating to residential tenancies (the “New Order”). The New Order replaces the prior ministerial order dealing with residential tenancies, which we summarized in our blog here.
The New Order will impact Landlords and Tenants as follows:
On March 27, 2020, the Government of Alberta announced new measures to address residential tenancy issues arising during and as a result of the COVID-19 pandemic. Max Carroll and Jeffrey Hernaez of our Vancouver office wrote yesterday about similar measures put in place in British Columbia.
Pursuant to the Public Health Act (Alberta) and the Minister’s powers under the ...
On March 25, 2020, the Government of British Columbia announced a number of relief measures for residential tenants and landlords in response to the COVID-19 pandemic. These measures are summarized in our blog post here.
On March 30, 2020, a Ministerial Order (the “Order”) pursuant to the province’s Emergency Program Act was made by the Minister of Emergency ...
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