Posts tagged with “Canada Revenue Agency (CRA)”

post image
Navigating Canada’s Underused Housing Tax

On June 9, 2022, the federal government enacted the Underused Housing Tax. While REALTORS® do not assume direct responsibility, they can help inform their clients of their tax filing obligations.

post image
Federal Budget 2022: Taxation of Property Flipping, GST and Assignment Sales #548 

The proposed federal budget for 2022 has introduced a number of new rules relating to real estate, including rules to dampen speculation in the market. REALTORS® should be aware of these changes.

post image
Home Office or Work Space Expense Deductions #414

Section 18(12) of the Income Tax Act permits a self-employed individual to deduct expenses associated in using part of the home as a place of business…

post image
Commission Trust Between Independent Contractor and Agent, Validity & Personal Property Security Act Involvement #266

An investment made by BCREA and the Victoria Real Estate Board, of legal fees towards the cost of a claim made by a Victoria licensee, that payment of her commission had priority over the receiver/manager…

post image
Independent Contractor or Employee – The Tests For #228

When the Homelife/Victoria case was decided in 1992, the conduct required to establish independent contractor status was not common knowledge among the licensees who claimed this status at the hearing…

post image
Income Tax – The Cost of Buy-Downs as a Moving Expense; Faxed Communications – The Validity Of #156

The reasons for judgment of a recently reported case, which have not yet made their way to the Victoria courthouse library is of particular interest in these days of high interest rates and buy-downs…

post image
Tax Deductibility of a Real Estate Training Course #133

A real estate salesperson in Ontario paid $525 in 1985 to attend a four-day course “List More – Sell More,” which she found to be useful in increasing her commission income…

post image
Principal Residence – Exemption or Taxable Gain #131

Where the lands surrounding a principal residence exceed one acre, the excess area only falls within the principal residence exemption if the owner…

post image
Commissions, Garnishees and Interest #97

Before weave the memory of 1986 too far behind, some questions have been asked concerning several of the 1986 Legally Speaking columns…

Welcome to our new home!

Looking for Professional Development and Standard Forms?
They moved to BCREA Access.

Learn more HERE.