Introduction: Toronto’s Vacant Home Tax Declaration Deadline is Fast Approaching The City of Toronto now marks its third year of imposing the Vacant Home Tax (“VHT”) on property owners in Toronto. After its controversial rollout in 2022, the City of Toronto was plagued with a series of cascading blunders...
On January 1, 2022, the Select Luxury Items Tax Act, also known as the Luxury Tax Act, came into effect. This new tax, introduced as part of the 2021 Federal Budget, targets high-earning Canadians who can afford to buy expensive goods, making them contribute more to the tax system....
Introduction Home flipping in Canada has been a popular strategy for those looking to invest in real estate, capitalize on market trends, and potentially earn significant profits. However, one of the less discussed but critically important aspects of this practice is the tax implications, particularly when it comes to...