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…
Authors: Alexander Demner, Tyler Berg, and Gloria Wang
The federal government released its 2021 budget on April 19, 2021. Coming in as the longest budget in Canadian history, Budget 2021 proposes a myriad of income tax…
Taxes on residential realty in and around Greater Vancouver have been steadily proliferating over the past few years: first the provincial Foreign Buyer Tax (2016), then the municipal Vacancy Tax (2017) and, most recently, the provincial Speculation Tax (2018). All…
Last week the BC government tabled Bill 45, which seeks to implement the province’s new Speculation and Vacancy Tax. A careful review of the Bill suggests that it is overreaching and lacking in taxpayer fairness. Critical aspects of the…