Feigenbaum Law

foreign buyers

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

Vacancy Tax- Overhead view of suburban street

Personal Tax Planning

Foreign Buyer Challenging $249,000 Vacancy Tax Levied by City of Vancouver

A homeowner in Vancouver has sued the city after being subject to a $249,000 vacancy tax on a property on which she does not reside. The matter has reinvigorated debate and discussion about the impact of foreign buyers and vacant properties on a continually overpriced and hot housing market in Vancouver and other large centers across Canada. The Home at Issue The property at issue, a home located at 4749 Belmont Avenue, was sold for… Read More

Foreign buyers

Personal Tax Planning

Newly Released Statistics Reveal that Fewer Foreign Buyers are Buying Homes in the GTA

We’ve previously blogged about measures being implemented in various jurisdictions across Canada intended to cool down the housing market and address affordability by taxing foreign buyers. Among such measures was a Foreign Buyer’s Tax introduced in British Columbia (and separately also within Vancouver). We also blogged about creative ways that foreign buyers have been attempting to circumvent measures such as the Foreign Buyer’s Tax. Much like in BC, Ontario has its own foreign… Read More