CRA cracking down on abuse of principal residence exemptions, but their assessments aren’t written in stone Jamie Golombek: If it’s determined that you’re regularly buying and selling homes, you can be denied the PRE There are very few things that are tax-free: investment income in your TFSA, lottery and casino winnings, purchasing six or more […]
Tim Cestnick July 21, 2017 Ever since the 2017 federal budget in March, when the government announced that tax changes affecting private corporations would be coming, I’ve been feeling queasy. Well, the proposed tax changes were announced by Bill Morneau, the Finance Minister, on Tuesday. And ugly they are. Here’s a primer on the potential […]
Although the Province has just announced the 15% Non-Resident Speculation tax, there are already more questions than answers. Here is what you need to know: 1. The tax is for non-residents of Canada buying 1-6 residential units in the Golden Horseshoe area of Ontario. This tax is in addition to any Land Transfer Tax payable. […]
