Canada Revenue Agency real estate audit penalties in B.C. reach $200,000 mark
Selling Canadian real property? Canada Revenue Agency is increasing audit focus on nonresidents selling Canadian real property. We can assist you.
Steven Flynn comments on BC’s new speculation and vacancy tax and the impact on foreign nationals who own Canadian real estateFebruary 26 2019
Canada Revenue Agency (CRA) is poised to receive significant data from the BC government that will help tie home ownership to income declarations. While BC's speculation and vacancy tax is a measure to address the housing crisis in major urban centers in BC, it can also have an impact on “satellite” families who declare very little as Canadian income and those who own a secondary urban home that remains empty for most of the year.Canada Revenue Agency, Canadian Real Property, Canadian Tax Law, Tax Liabilities
British Columbia Speculation and Vacancy TaxJanuary 28 2019
Owners of BC residential property need to be aware of the new 2018 British Columbia Speculation and Vacancy Tax affects and how to apply for exemptions.BC Speculation and Vacancy Tax, Canada Revenue Agency, Canadian Real Property, Canadian Tax Law
Changes to Certain Cross-Border Tax Amounts for 2015February 4 2015
As the calendar changes to 2015, both the Internal Revenue Service and Canada Revenue Agency have changed or left unchanged certain amounts and figures. Below are some of the revised amounts, numbers and limits for the year 2015 relevant to US citizens resident in Canada.Canada Revenue Agency