Airbnb Property Owners Beware: Ontario Court Says You Owe HST on Sale

Ontario Man with Sign

In 1351231 Ontario Inc. v. The King (2024 TCC 37), the Tax Court of Canada (TCC) held that a condo initially used for long-term rentals but later listed on Airbnb did not qualify as a โ€œresidential complexโ€ under the Excise Tax Act (ETA), making its sale subject to HST. The corporation had purchased the unit in 2008, treating it as … Read More

Why Buying Pre-Construction in Toronto Can Be a Smart Move

Toronto Pre Construction Picture

Thinking about buying a pre-construction condo or home in Toronto? Learn the top advantages of investing early in new developments across the GTA. ________________________________________ Why Buying Pre-Construction in Toronto and the GTA Makes Sense Torontoโ€™s real estate market continues to evolve, and buying pre-construction has become an increasingly popular option for homebuyers and investors alike. Whether you’re looking for a … Read More

Why Specificity in Your Purchase Agreement Could Save Your Deal (or Your Wallet)

In the world of real estate, whatโ€™s not written in your Agreement of Purchase and Sale (APS) can cost you. Whether you’re buying a home in Toronto, an investment property in Vaughan, or a commercial unit in Mississauga, vague or poorly defined conditions or amendments can lead to disputes, delays, or lost deposits. It is unbelievable the number of Agreements … Read More

Is Your Condoโ€™s Reserve Fund Ready for the Future?

A reserve fund for a condominium in Ontario is a pool of money that is set aside by the condominium corporation to cover the cost of future major repairs, replacements, and maintenance of the common elements and assets of the building or complex. These common elements can include things like the roof, parking garage, elevators, HVAC systems, and the building’s … Read More

Looking to Cut Trees in Ontario? There are Certain Rules You Need to Know.

In Ontario, cutting trees is subject to various rules and regulations to protect the environment, preserve natural habitats, and ensure sustainable forestry practices. Whether you’re removing a tree on your own property or on public land, hereโ€™s a breakdown of what you need to know: 1. Private Property (Your Own Land) โ€ข No General Provincial Law for Cutting Trees on … Read More

In Condominium Ownership, What is a Special Assessment?

A special assessment for a condo owner in Ontario is a one-time extra charge imposed by the condominium corporation to cover unexpected or extraordinary expenses that go beyond what the regular monthly condo fees can cover. This typically happens when the condominiumโ€™s reserve fund is insufficient to pay for major repairs, maintenance, or improvements that are necessary for the common … Read More

What is a โ€œStatus Certificateโ€ in Condominium Purchases?

Many people are unaware that a status certificate is a very important document when looking to purchase a condominium unit. The status certificate will be prepared by the condominium corporation or by the property management if they service that building. The purpose of status certificates is to allow potential buyers of condo units to have as much information as possible … Read More