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The Federal Underused Housing Tax Act – What you Need to Know
What is It? The Federal Government recently introduced an annual 1% Underused Housing Tax on the ownership of vacant housing in Canada. The Underused Housing Tax Act is now in effect. What Properties are Subject to the Underused Housing Tax?...
Amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act
Amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act On January 1, 2023, the federal government implemented the Prohibition on the Purchase of Residential Property by Non-Canadians Act and regulations (together, the “Act”) barring non-Canadians from...
Bill 23: Unveiling Ontario’s new More Homes Built Faster Act
By Frank Bourgault and Wafa Khan The Ontario government recently unveiled new legislation that is intended to address Ontario’s housing crisis. The More Homes Built Faster Act, 2022 (the “Act”), which was introduced on October 25, 2022, proposes to amend several acts cumulating...
Vacant Unit Tax
On May 11, 2022, The City of Ottawa (the "City") instituted a new By-Law related to vacant residential properties. The By-Law includes three key components that every residential homeowner should be aware of: The City has made the determination that, moving forward, a homeowner should...
