Resources & Articles
Construction
Removal of GST on Purpose-Built Rentals in Canada
In a significant step toward improving housing affordability and accessibility, the Canadian government recently announced the removal the Goods and Services Tax (GST) on purpose-built...
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Replacement Property Rules Pertaining to Real Estate and Business Properties
When a taxpayer (including a corporation) disposes of real estate for more than its cost, the capital gain must be reported on the taxpayer’s income...
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Cash Management Strategies for the Construction Industry
The construction industry operates in a project environment that often involves progress payments from their customers. Contractors typically submit invoices at specific stages of the...
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Work in Process (WIP) Valuation Strategies
In many industries – and especially in construction – the method by which a company chooses to value its work in process and consequently recognize...
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GST/HST and Damage Payments
Given the vastness of the GST/HST rules, it is wise to check the GST/HST rules for all transactions, especially those that are non-routine, such as...
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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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