What are common tax issues when dealing with real estate?
Canadian real estate is a hot topic and there are many tax issues with acquisition, development, holding and disposition of property.
Over the next 6 months, we will provide an overview of various tax issues and terminology in Canadian real estate with regards to the following:
- Types of ownership structures
- Inventory valuation
- Real estate expenses in pre-acquisition phase
- Real estate expenses after acquisition
- Capitalization of development costs
- Leaseholds improvements
- Capital cost allowance of depreciable property
- Disposition of real estate
- Change in use of real estate
- Replacement property rules
- Foreign real estate
- Disposition of property by non-residents
- Goods and services tax on residential real estate
- Goods and services tax on commercial property
If you would like more information on tax issues when dealing with real estate, please contact us.