Canadian Newcomers, Non-Residents

new canadian banking rules

Posted on Jul 27, 2017 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...

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BC foreign buyer tax

Posted on Mar 13, 2017 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...

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extra real estate tax

Posted on Aug 02, 2016 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, Coquitla...

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home buying guide for new immigrants to canada

Posted on Aug 27, 2014 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...

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non-resident buyers and sellers of real estate

Posted on Aug 01, 2014 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...

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