new canadian banking rules

(July 27, 2017, posted in Canadian Newcomers, Non-Residents)

New Canadian banking rules that took effect July 1 are a “game changer” that could help governments in Victoria and Ottawa fight real estate tax scams exploited by foreign buyers, says a prominent B.C. immigration lawyer.

As of July 1, Canadian banks must confirm detailed information on non-resident clients — such as name, address, date of birth and taxpayer identification numbers — in order to rep... read more.

BC foreign buyer tax

(March 13, 2017, posted in Canadian Newcomers, Non-Residents)

Later this week B.C.'s finance minister is to announce new exemptions and rebates for the foreign buyer tax on Metro Vancouver real estate.

Local newspapers have reported 'international citizens with work permits who pay taxes in BC won't have to pay the foreign buyer surcharge. Further, foreign nationals who were hit with a 15% foreign buyer tax on the real estate, but then months later became Can... read more.

extra real estate tax

(August 02, 2016, posted in Canadian Newcomers, Non-Residents)

The 15 per cent tax on foreign buyers is effective today with strict non-compliance penalties.

This tax applies to foreign entities purchasing property in Metro Vancouver* once the transfer is registered at the Land Title Office – with no exceptions.

* The Greater Vancouver Regional District includes Anmore, Belcarra, Bowen Island, Burnaby, Coquitlam, Delta, Langley City and Township, Lion’s Bay, M... read more.

home buying guide for new immigrants to canada

(August 27, 2014, posted in Canadian Newcomers, Non-Residents)

Welcome to Canada!

Good news is buying a home in Canada is relatively easy compared to other countries. 

Here is a great 'visual' I came across today that puts in perspective how easy buying a home in Canada can be if you are a new immigrant.

The infographic tells you a bit about:
  •  Canada
  • the property market, 
  • types of housing, 
  • what to consider when buying a home, 
  • what to look for when buying a home, 
  • finding... read more.

non-resident buyers and sellers of real estate

(August 01, 2014, posted in Canadian Newcomers, Non-Residents)

There are certain legal and accounting issues that arise when a non resident of Canada acquires or sells property in Canada.  These issues are set out below.

Non-Resident Purchases

The issues that arise from a non resident purchase are not from the purchase of the property, but rather from holding the property over a long period of time. There are no restrictions for a non resident purchase, nor are... read more.