Posts tagged with “Canada Revenue Agency (CRA)”

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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.

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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.

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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…

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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…

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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…

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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…

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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…

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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…

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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…



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