This course identifies and reviews significant income taxation issues arising from various aspects of real estate activities and includes practical, business-focused suggestions for dealing with such issues.

After reviewing the structures available to undertake real estate transactions, this course provides a detailed examination of income tax issues arising from the acquisition, development, holding, and disposition of Canadian real estate. Some coverage of provincial tax issues involving real estate will be included. While a brief overview of GST, HST and provincial tax issues is undertaken, participants should be aware that due to its emphasis on income taxes, this course does not provide a detailed or complete discussion of the impact of indirect taxes on real estate.

Topics Include:

• Various structures for the ownership and acquisition of real estate
• The tax treatment of the costs of acquiring, holding, and developing real estate
• Issues surrounding the disposition of real estate
• Corporate reorganizations involving real estate
• Provincial tax issues involving real estate

NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.

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By the end of this course, participants should be able to:

• Determine the distinction between real property held on account of income or capital.
• Identify repair costs vs. capital expenditures.
• Apply the rules for interest deductibility.
• Determine when the sale of a house qualifies for the principal residence exemption.
• Appreciate the differences between ownership by an individual, a corporation, a partnership and a joint venture.
• Describe the replacement property rules and the change in use rules.