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Courses/Accounting & Tax/Real Estate Tax

Tax Issues in Canadian Real Estate: A Mix of Things

A Comprehensive Walkthrough of Common Real Estate Tax Issues

Created bySteven Pitucci
4.6
(200 reviews)
BeginnerUpdated Oct 30, 2024
Tax Issues in Canadian Real Estate: A Mix of Things

What You'll Learn

check_circleUnderstand Common Real Estate Tax Issues in Canada: Gain insights into common grey areas in Canadian real estate, including purchase price allocations, principal residence exemptions, and the implications of 45(2) / 45(3) elections.
check_circleEvaluate Real Estate Ownership Structures: Learn about the different structures for holding real estate in Canada, such as individual ownership, partnerships, corporations, and trusts, and the tax implications of each.
check_circleNavigate GST/HST Regulations in Real Estate Transactions: Explore key GST/HST issues, including requirements for “builders,” eligibility for rebates for new home buyers and landlords, and the application of GST/HST on land sales.
check_circleAssess Tax Implications in Economic Downturns: Understand tax issues related to real estate in a recession, such as interest deductibility, claiming real estate losses, corporate real estate ownership, and selling Airbnb properties.
check_circleStay Updated on Current Tax Regulations: Apply updated 2024 insights and verified content to ensure compliance and relevance in real estate tax planning and advisory services.
check_circleApply Concepts to Real-World Scenarios: Utilize practical knowledge from the course to manage tax issues effectively for clients involved in real estate transactions or property management.

About This Course

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.

     

    Your Instructor

    Steven Pitucci
    Steven Pitucci

    Accounting and Tax Educator, CPA, CA

    menu_book16 courses
    star3,714 reviews

    As a Chartered Professional Accountant, I am currently navigating the complex world of forensic accounting & advisory in a Canadian insolvency firm. I am a former partner of public accounting firm serving Canadian individuals and privately-held businesses. I am also educating other accountants with all things accounting and tax. I have a passion for taking complex issues and teaching them to others in a manner that is understandable.

    Credit Information

    Is this course eligible for my CPD requirements as a Canadian CPA?

    Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.

    Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.

    What Students Are Saying

    4.6
    Student's Choice
    200 reviews

    Frequently Asked Questions

    We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.