This update is further to our first blog post from December 23, 2022 on the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”).
Based on significant industry feedback from across the country with respect to the unintended consequences of the nationwide prohibition on the purchase of residential property by non-Canadians that came ...
Underused Housing Tax Filing Obligations
The filing deadline for the first year of the Federal Underused Housing Tax (“UHT”) is fast approaching. Any owner of residential property in Canada who is not explicitly defined as an “excluded owner” must file a return by April 30, 2023 for each residential property of the owner. The UHT is a 1% tax on the value of vacant or ...
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