by David J Rotfleisch | Jul 10, 2020 | Columnists, Featured, Legal Issues
On June 25, Canada Revenue Agency (CRA) announced that it would carry out a tax review of six years of U.S. real estate transactions in order to find any tax non-compliance from Canadian taxpayers. CRA is looking for “real estate and property data in bulk form, in...
by Shaneka Shaw Taylor | Jun 22, 2020 | Featured, Legal Issues
Does a corporate buyer of a property owe commission to the real estate agent who introduced a previous corporate buyer to same property, where the first purchase was aborted just before the second purchase agreement was signed? The Superior Court of Justice discussed...
by Bob Aaron | May 12, 2020 | Columnists, Featured, Legal Issues
The organization representing Ontario’s 70,000 Realtors has published four confusing and dangerous COVID-19 clauses for members to consider using in purchase agreements. The Ontario Real Estate Association (OREA) is an advocacy group for Ontario’s Realtors. It...
by Martin Rumack | Apr 30, 2020 | Legal Issues
As you may have been advised by your accountant and/or your tax lawyer, the CRA has introduced new disclosure and reporting rules effective for the 2021 taxation year. Will these new requirements open a Pandora’s Box? That’s the big question in connection with trusts....
by Shaneka Shaw Taylor | Apr 27, 2020 | Columnists, Featured, Legal Issues
In Firepower Debt GP v. TheRedPin, the Ontario Court of Appeal grappled with the question of what happens to a real estate agent’s uncollected commissions when their real estate brokerage becomes insolvent. The brokerage, TheRedPin.Com Realty, had a roster of...
by Martin Rumack | Apr 23, 2020 | Legal Issues
Under Ontario’s Condominium Act, 1998 a condominium corporation is granted specific powers in the event that an owner fails to pay his share of the common expenses. Specifically, section 85 entitles the corporation to a lien against the defaulting owner’s unit, which...
