by Samantha Prasad | Sep 11, 2020 | Featured, Legal Issues
From what I have read, the demand for cottage properties has soared during COVID-19. City folk are eager to get out of the city for a change of scenery, especially since many people are still working from home. So the idea of having your laptop set up on the dock of...
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 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 Myles Shane | Oct 28, 2019 | Advice for Agents, Featured
In 2019, Canada Revenue Agency (CRA) assessed a 65-per-cent year-over-year increase in gross taxes related to real estate – some $171 million. Penalties totalled more than $57 million, which is more than double the year prior. Recently REM spoke to Mariska Loeppky,...
by REM Editorial Team | May 28, 2018 | Featured, News
More than $43.7 million in penalties have been assessed by Canada Revenue Agency (CRA) during the last three years for evading taxes in real estate transactions. The agency says that audits have identified $592.6 million in additional taxes related to the real estate...
