Resources & Articles
Construction
New Prompt Payment Toolkit and Resource Centre
Prompt payment and adjudication are processes provided under Ontario’s Construction Act to help contractors to get paid on time. Prompt payment legislates mandatory timelines for...
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New Amendments to Foreign Buyer Ban Regulations
On March 27, 2023, the Federal Government announced that they are amending some of the problematic aspects of the Prohibition on the Purchase of Residential...
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UNREPORTED REAL ESTATE DISPOSITIONS: Multiple Issues
A September 12, 2022, Tax Court of Canada case reviewed the gain on a residential property purchased in 2007 and disposed of in 2011. The...
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New Regulations Prohibit Builders/Developers with Whole or Partial Foreign Ownership from Purchasing Canadian Residential Property
On December 21, 2022, the federal government released the Prohibition On The Purchase Of Residential Property By Non-Canadians Act. This new regulation came into force...
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The post-pandemic evolution of office and multifamily real estate
(authored by RSM CANADA) Pandemic protocols such as remote work continue to redefine the future of residential and office space.
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As Interest Rates Rise, Canada’s Residential construction Industry Enters a New Phase
(authored by RSM CANADA) The construction industry has been hit hard by rising interest rates, but it isn't all doom and gloom. Our economist discusses the opportunities for savvy developers and middle market businesses.
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REQUIRED TRAVEL: Between Home and Work
A June 21, 2022, Tax Court of Canada case considered whether motor vehicle costs of $1,642 associated with a construction foreman’s travel between home and...
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Residential Property Flipping – Important Taxation Considerations
Canadian residents who dispose of their family home and realize a gain may be eligible to claim an exemption, known as the Principal Residence Exemption...
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BUYING & SELLING A HOME: Budget 2022 Proposals
The 2022 Federal Budget included several proposals that would significantly change the taxation environment when buying and selling a home. Broadly, the government proposed various...
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T5018 Information Return
One of Canada Revenue Agency’s (CRA) strategies to combat the ever-growing underground economy is to require construction businesses to file an annual T5018 return. A...
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