Tax Issues in Canadian Real Estate: A Mix of Things

In this comprehensive course, Steven Pitucci, a practicing CPA from Toronto, Ontario, discusses common issues that often arise in the purchase and sale of real estate properties in Canada. The goal of the course is to simplify complex, technical matters and convey them in an easily understandable way for professionals who are less familiar with these topics and wish to expand their knowledge base.

Topics discussed in this course include:

Common grey areas in Canadian real estate, specifically:

• Purchase price allocations between land and building
• Principal residence exemption
• Principal residence conversions via the 45(2) / 45(3) elections

     2. Real estate structures available in Canada, specifically, purchasing real estate as an:

• Individual/co-owner
• Partnership
• Corporation
• Trust

     3. GST/HST issues with real estate, specifically:

• GST/HST for “builders”
• GST/HST rebates for new home buyers
• GST/HST rebates for new home buyer landlords (including the NRRP and PBRH rebates)
• GST/HST applicable on the sale of land

     4. Tax issues with real estate in a recession, specifically:

• Interest deductibility
• Claiming real estate losses
• Purchasing real estate in a corporation
• Selling Airbnb properties

 

IMPORTANT NOTE: Students who have previously enrolled in Steven’s courses, including:

• Tax Issues in Canadian Real Estate: 2021 Edition
• Tax Issues in Canadian Real Estate: 2022 Edition

should refrain from enrolling in this course, as it includes extracts from these two previous courses. However, topics have been verified and updated to ensure relevance in 2024.