Real Estate
National Day for Truth and Reconciliation
September 30 marks the second National Day for Truth and Reconciliation. The day was created to honour survivors of the residential schools, their families, and communities, and this public commemoration remains a vital part of the reconciliation process. September 30 is a federal statutory holiday. Banks, the post office and other federally regulated entities will… Read More »
Categories: Real Estate, Civil Litigation, DiversityNew Federal Underused Housing Tax
[Update Sept 11/23] Underused Housing Tax penalties and interest waived The deadline for filing under the Underused Housing Tax Act (S.C. 2022, c. 5, s. 10), is April 30th, 2023, however the Canada Revenue Agency (CRA) has extended the time to file any return and pay any tax to November 1, 2023. For further information… Read More »
Categories: Real EstateUpdate about fund transfers
There has been much written about how lawyers receive and deliver money from their trust accounts on behalf of their clients as part of a transaction. The issue comes down to ensuring good funds are being dealt with in order that value is exchanged. In Canada, our banking system works on the basis of trust,… Read More »
Categories: Real Estate, Fraud PreventionCottages and Rural Properties: Avoid Common Errors that Lead to Title Insurance Claims
Cottages are a Canadian summertime staple. For many, cottage life has become tradition and cottage ownership is a dream come true. Conversely, cottage and rural residential properties generally present the real estate lawyer with some of the most challenging and complex issues of any area of real estate law, and may surprise lawyers who are… Read More »
Categories: Real Estate, Communication ErrorsHST Now Applies To All Assignments Of New Home / New Condominium Contracts (i.e. flipping)
The 2022 Federal Budget introduced two important changes governing the HST on the Assignment of a New Home and New Condominium Agreement of Purchase and Sale entered into with a builder (“New Home Contract”). 1) All Assignments Of New Home Contracts Are Now Subject To HST, Without Exception This represents an important change, as in… Read More »
Categories: Real EstateCommon HST errors in real estate transactions
Determining HST-applicability to real estate transactions can be more complicated than many lawyers assume. What’s more, a lack of clarity and errors can often lead to substantial unforeseen costs for clients. This is a dangerous combination from a claims perspective. This paper discusses the common categories of HST errors and provide tips on how to… Read More »
Categories: Real EstateAmendments to Non-Resident Speculation Tax
On March 29, 2022, the Ontario government announced amendments to the Land Transfer Tax Act which impacts the Non-Resident Speculation Tax. Effective March 30, 2022, the government is: Increasing the Non-Resident Speculation Tax to 20 per cent Expanding the tax to apply province-wide Eliminating the rebates for international students and foreign nationals working in Ontario… Read More »
Categories: Real EstateIntroducing the new TitlePLUS: Launching May 17
The new TitlePLUS is launching on May 17 and is better than ever. It’s a one-stop shop to purchasing title insurance that busy legal professionals expect. Within minutes, you can complete an easy online application and receive a user-friendly title insurance policy that automatically includes legal service coverage. Backed by LAWPRO, TitlePLUS is the only… Read More »
Categories: Real Estate, The TitlePLUS Program & Title Insurance