Feigenbaum Law

foreign buyers tax

Speculation Tax

Personal Tax Planning

Housing Speculation Tax Challenged in B.C.

We’ve regularly blogged about tax issues arising out of real estate transactions, including taxes being levied against foreign buyers in an increasing number of cities across Canada. We’ve also blogged about taxpayers fighting back against such levies. Now, a group of other taxpayers have launched a legal action against B.C’s Speculation and Vacancy Tax a move which appears to be the only major lawsuit to reach trial. Speculation and Vacancy… Read More

Nova Scotia

Personal Tax Planning

Nova Scotia Becoming Hot Market for International Home Buyers

We’ve previously blogged about non-resident home buyers and the impact that they have had on housing markets in some of Canada’s largest cities, including Toronto and Vancouver. We’ve also explored the various measures these jurisdictions have taken to address what many see as an increasing problem in an already overheated market. The ongoing and “intense discussion” around real estate has prompted the Canadian Housing Statistics Program… Read More

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

Vacancy 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

Vacancy 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