Canada – Budget 2022 Implementation
Bill-19 includes an outright ban on foreign investment in Canadian housing for the next two years, as well as the luxury tax on the sale of new luxury cars and aircraft. It also allows the government to seize…
Federal Anti-flipping Tax Intended to Cool Housing Prices
The Federal Budget issued on April 7, 2022 proposes that all profits from the sale of residential properties held for less than 12 months would be considered business income. This rule would apply to all properties sold on…
BC Creates Homebuyer Protection Period
Amendments to the Property Law Act introduced on Monday, March 28, 2022, will enable the creation of a new Homebuyer Protection Period to protect people buying a home in a challenging real estate market.
Legal Assistant – Downtown Vancouver
We require a legal assistant to assist two lawyers in the areas of corporate / commercial law, intellectual property, and wills and estate planning.
“Cooling Off” BC Real Estate
To better protect consumers in British Columbia’s real estate market, the Government of British Columbia is introducing legislation that requires “cooling off periods” for resale properties and newly built homes. This change will be similar to the cooling…
Land Owner Transparency Registry – Filing Deadline Extended
The deadline for pre-existing “reporting bodies” (a relevant corporation, a trustee of a relevant trust, or a relevant partnership who acquired an "interest in land" prior to November 30, 2020 and continues to own an interest) to file…
Landowners – Requirement to file documents in the Land Owner Transparency Registry (LOTR)
Effective November 30, 2020, the Land Owner Transparency Act (British Columbia) (“LOTA”) came into force, introducing certain disclosure obligations regarding beneficial ownership of land in British Columbia.
Taxation – “Unproductive Use” of Canadian Housing by Foreign Non-resident Owners
The 2021 Federal budget proposes to introduce a new national one percent (1.00%) tax on the value of non-resident, non-Canadian owned residential real estate property considered to be vacant or underused. The tax applies to owners other than…
Land Owner Transparency Registry
Pre-existing owners that are "reporting bodies" (as defined in the legislation) with an interest in land are required to file a transparency report by November 30, 2021.
BC Ends Rental and Age Restrictions for Strata Properties (Updated)
Amendments to the Strata Property Act will end all strata rental-restriction bylaws, limit age-restriction bylaws, and add Provincial and City tax costs to strata owners.