Dates and location
Hours
Dates and location
Hours
Description
Owning real estate, even if it’s your principal residence, in Canada has become very taxing in recent years. Although various incentive programs, such as the tax-free first home savings account (FHSA), GST/HST new housing rebates, etc. have been developed to make home ownership accessible to all Canadians, the government also implemented or proposed many measures, such as income tax rules for flipped property, non-compliant short-term rental activities, etc. to discourage certain activities perceived to reduce access to housing. In this webinar, we will review some of these major measures, provide latest CRA’s positions on certain residential real estate transactions, and a brief discussion of Canadian income tax issues for a non-resident property owner.
Topics Include:
- Incentives/tax credits for first-time home buyers
- Home buyers’ plan (HBP)
- First Home Savings Account (FHSA)
- Tax credits
- Taxes on residential property owners
- Underused housing tax
- Flipped property
- Non-compliant short-term rental activities
- City’s vacancy tax
- Special rules for non-resident residential property owners
Key Takeaways
By the end of this course, participants should be able to:
- Identify various tax incentives avaialble to help their client to purchase real estate.
- Be mindful of various new taxes applicable to real estate transactions.
- Be able to provide tax information to non-resident property owners.
Who Will Benefit
Members and students who advice their clients on Canadian tax issues arising from owning residential real property in Canada.
How to Access the Course
An email reminder of this event will be sent out 24 hours prior to the event. If you have not yet received the reminder 4 hours prior to the event, please do not hesitate to reach out. Please check your Junk and Spam folders and ensure membernetwork@cpaontario.ca has been added to your safe addresses.
Speaker(s)
Lin Shen, CPA, CA, MA (Economics) - Lin received her Chartered Professional Accountant designation (CPA, CA) in 2008. Before she joined a major bank, Lin was a tax manager with a mid-sized accounting firm in Toronto where she completed the CICA In-Depth tax course. Currently she is helping investment advisors to explore succession, tax, retirement and estate planning strategies that may be of interest to their high-net-worth clients.