Tax Blog Posts

Vacancy Tax/Empty Homes Tax – Five Suggested Areas for Improvement

Introduction In 2017, the City of Vancouver introduced its annual residential vacancy tax (or “empty homes tax”). At that time, the tax rate was 1% of the assessed value of a subject property. The governing statute and administration program were…

First filings coming up for new housing taxes in Toronto and Ottawa

Vacant housing taxes came into effect in Toronto and Ottawa for 2022, meaning that homeowners will have to file their first occupancy status declaration by February 2023 (for Toronto) and March 2023 (for Ottawa). Toronto’s portal is now open for…

Canadian Tax Alerts

Canadian foreign home buyers ban coming into effect

The Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”) enters into force this Sunday (January 1, 2023). As supplemented by detailed regulations (the “Regulations”), the Act prohibits any “non-Canadian” from purchasing, directly or indirectly,…