Tag: residential property

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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?...

By Matthew Reardon of Merovitz Potechin LLP on Monday April 24, 2023.

Tags: business corporations, business property, canadian real estate, ontario real estate, Real Estate, residential property, underused housing tax act, vacant housing tax, vacant unit taxes,

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...

By Nathan Serratore of Merovitz Potechin LLP on Tuesday April 11, 2023.

Tags: Buyer, Canada, Condominium Law, detached homes, Homebuyer, housing development, land development, Property, Real Estate, Residential, residential property, row-home, semi-detached, vacant land,