Feigenbaum Law

foreign buyers tax

Real estate tax

Personal Tax Planning

CRA Collects More than $1 Billion After Cracking Down on Real Estate Tax Evaders

We’ve often blogged about tax issues pertaining to real estate, including the fact that fewer home buyers are purchasing homes in Toronto, Vancouver and other hot markets after the introduction of Foreign Buyers’ Taxes and other measures, how buying property from a non-resident of Canada can have significant tax implications, as well as the tax consequences of owning a cottage, among others. Now, the Star is reporting that… Read More

Foreign Buyers Tax- Overhead view of suburban street

Personal Tax Planning

A “Service” Intended to Avoid the B.C. Foreign Buyers Tax is Being Provided in Vancouver

We’ve previously blogged about the B.C. government’s introduction of the Foreign Buyer’s Tax, which came into effect 2016 and requires all foreign entities (including foreign nationals) to pay an additional 20% on the purchase of residential property in the Greater Vancouver area. The purpose of the tax was to cut down on the number of foreign buyers who were purchasing homes in the region, but not living in them, leaving many homes… Read More

Foreign Buyers Tax- Overhead view of suburban street

Personal Tax Planning

Chinese Citizens Challenge B.C. Foreign Buyers Tax, Claiming Discrimination

A ground-breaking class action law suit testing the legality of the British Columbia government’s foreign buyers tax kicked off this week in a B.C. court. The claim argues that the tax on foreign buyers violates the Canadian Charter of Rights and Freedoms by targeting individuals “whose national origin is from an Asian country, a class of persons that have historically suffered discrimination in British Columbia.” The Foreign Buyers Tax The tax in question was… Read More