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Bennett Jones LLP

British Columbia Introduces the Flipping Tax—What is it and Why Should You be Aware?

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What is the Flipping Tax and Why is it Important? The B.C. government announced in its 2024 budget a plan to introduce a tax (the Flipping Tax) on income earned from the sale of a property within 730 days of acquisition....more

Blake, Cassels & Graydon LLP

What the New Speculation and Vacancy Tax Act Means for B.C. Real Estate

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British Columbia’s Speculation and Vacancy Tax Act (Bill 45) (SVTA) recently received royal assent. As announced in the 2018 provincial budget, the SVTA introduces a tax on residential properties left vacant for six months or...more

Bennett Jones LLP

Property Tax Assessments—Why You Should Respond to Requests for Information

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The Alberta Municipal Government Act (MGA) has been amended to expand the information that an assessor can request from taxpayers regarding preparation of assessments. This expanded legislative scope has the potential to also...more

Blake, Cassels & Graydon LLP

Changes to British Columbia Property Transfer Tax

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INCREASE IN PROPERTY TRANSFER TAX RATE FOR PROPERTY IN EXCESS OF C$2 MILLION - The Budget introduced a third property transfer rate of three per cent on the portion of fair market value of a property over C$2-million....more

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