In this comprehensive course, Steven Pitucci, a practicing CPA from Toronto, Ontario, discusses common issues that often come up involving the purchase and sale of real estate properties in Canada. The goal of the course is to take complex, technical matters on these issues and convey them in a way that is easily understandable to professionals who are less familiar with these matters and want to expand their knowledge base. Topics discussed in this course include:

• Updates on the Underused Housing Tax (UHT) Act – revisiting the legislation one year later (including a discussion on requirements for bare trusts)
• Common GST/HST issues that homebuilders face
• Legal changes in 2023 affecting real estate transactions – including the new NRRP GST/HST rebate, the “anti flipping” rule, and new compliance requirements for trusts
• The First Home Savings Account (FHSA): overview + planning considerations
• Income from a rental property – how do you determine if it is business or property income?
• Tax updates from the 2023 Federal Fall Economic Statement affecting Canadian real estate

NOTE: The last section covering the 2023 Federal Fall Economic Statement was added after this course was initially published (on Oct 31 2023) due to the report being delivered after the initial publication date.