Information About PLZ Law Blog

As of 2022 Torontonians need to pay to keep their homes vacant, whether by choice or not!  That’s right, the City of Toronto added Chapter 778, Taxation, Vacant Home Tax, to the City of Toronto Municipal Code. Beginning January 1st, 2022, if a dwelling unit in Toronto, being a self-contained residen … Read more »

Bill C-32 makes a few simple changes to the Canadian Income Tax Act (the “Act”) that have drastic tax consequences for those who have “flipped property”.  For dispositions that occur after 2022, “flipped property” is taxed as business income.  The changes deem “flipped property” as inventory and not … Read more »

The simple answer, is no.  Although not exactly clear, the language in the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”), does not specify as a requirement that “ownership” be transferred, such as titled ownership by way of a deed, or “possession” be granted, s … Read more »

Four years later (if your lucky depending how early you purchased your preconstruction condominium unit), you just finished your pre-delivery inspection (“PDI”) with a builder representative and realize that your floor plan is not exactly as illustrated in your agreement of purchase and sale, or tha … Read more »

The Foreign Buyer Ban If you have been trying to buy a house over the last few years, you may feel it’s impossible to get one for a reasonable price. Many investors are buying older houses and renovating them for a quick profit, and some foreign buyers can spend more money than many Canadians trying … Read more »