March 2023

Amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act Regulations

As a result of the advocacy from the real estate boards and the real estate sector as a whole, the federal government has announced changes to the regulations that guide the foreign homebuyers ban to expand exceptions to allow Non-Can...

The principal residence exemption is perhaps the most often used, the most taken for granted and, likely, the least understood income tax exemption available to taxpayers. Simply put, the rule is that for any capital gains on the sale of real estate to be exempt from taxation, the residence sold must be the principal residence of the taxpayer. As i...