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Category Archives: Property Tax Assessment

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2018 B.C. Budget: What It Means for B.C. Real Estate

Posted in Construction, Property Tax Assessment, Residential

On February 20, 2018 the B.C. government unveiled its Budget and Fiscal Plan 2018/19 – 2020/21[1] (the “Budget”) and an accompanying housing plan.[2] This update addresses the impact and significance of seven key measures relating to real estate that will be of interest to companies doing business, or considering doing business, in B.C. Those measures are:

  1. the increase in the property transfer tax;
  2. the increase in and expansion of the foreign buyer tax;
  3. the new speculation tax;
  4. the increase in the school tax;
  5. the new pre-sale condo database;
  6. the new beneficial ownership transparency measures; and
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Is Property Transfer Tax Reform on the Horizon?

Posted in Commercial, Property Tax Assessment, Residential

The Property Transfer Tax Act (British Columbia) could soon be amended to impose property transfer tax (“PTT”) on beneficial transfers of real estate.  The NDP-Green Party Coalition Government budget, scheduled for release this month, is expected to focus on the real estate market and PTT reform may be on the agenda. … Continue Reading

The Anti-Avoidance Blues: Does a Foreigner’s Title Nominee Share Purchase Constitute an “Avoidance Transaction”?

Posted in Property Tax Assessment

On August 2, 2016, the Province of British Columbia enacted amendments to the Property Transfer Tax Act (British Columbia) (the “Act”) which introduced a new 15% property transfer tax (colloquially referred to as the “foreign buyer tax”).  This tax currently applies when a foreign national or foreign corporation purchases residential property situated in the GVRD.  The amendments also include a new anti-avoidance rule applicable to the foreign buyer tax only.  This rule has yet to be considered by a Court, but on its face it may affect the ability of a foreign national or foreign corporation to safely avail itself … Continue Reading

Should I Challenge My Property Tax Assessment?

Posted in Commercial, Municipal, Property Tax Assessment, Residential

Ontario property owners are receiving notices of assessment this year that will serve as a basis for tax collections in 2017 through 2020. Values are set by the Municipal Property Assessment Corporation (“MPAC”) based on estimated January 1, 2016 market values. Municipalities will then use these assessments to determine your property taxes payable.… Continue Reading