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UPDATE: What You Need to Know About the NEW BAN on Residential Purchases for NON-Residents
March 6th, 2024 by Simon Reimer
In June 2022, the Canadian Prohibition on the Purchase of Residential Property by Non-Canadians Act received royal assent. The Act effectively bans the purchase of residential real estate for non-Canadians and imposes a fine to anyone who breaches it as a non-Canadian purchaser or as a person who assists a non-Canadian in purchasing residential real estate. This ban is set to take effect on January… Read More »
Underused Housing Tax: The Impact on Some Residential Property Owners
February 14th, 2024 by SNJ
Canada Revenue Agency extended the deadline for filing the 2022 Underused Housing Tax Return until April 30, 2024. This extension means that all penalties and interest will be waived so long as the return is filed by April 30, 2024. This also means that both the 2022 and 2023 Underused Housing Tax Returns need to be filed by the same deadline. The Underused Housing Tax… Read More »
Get to Know…Bryan Peters
January 26th, 2024
BACKGROUND Bryan is a partner at Smith Neufeld Jodoin LLP, joining the firm as an associate lawyer in 1992. Bryan became a partner at the firm in January of 2000. EDUCATION Bryan graduated from the University of Manitoba with his Bachelor of Laws in 1989. He received his Call to the Manitoba Bar in 1990, and his Call to the Ontario Bar in 2018. AREAS… Read More »
Selling a Home: Property Tax Adjustment
September 7th, 2023 by SNJ
Property taxes must be paid on all residential real property as charged by the city, town or municipality in which the property is located. The tax period for all properties is the calendar year, despite the fact that the due dates for the payments of taxes will differ depending on the city, town or municipality rendering the tax bill. It is the usual practice that… Read More »
Buying a Home: Property Taxes
September 7th, 2023 by SNJ
In a typical real estate purchase, an adjustment is usually made to the purchase price with respect to property taxes. This is due to the fact that property taxes are paid at different times of the year in the various areas of the province, but regardless of which area of the province the property is in, property taxes are always paid for the current calendar… Read More »
Why Make a Will?
August 25th, 2023 by Cassandra Bueckert
By: Bryan J. Peters & Cassandra Bueckert Most people know that making a Will is important, but oddly enough, only about half of all Canadians (55%) have a Will and even less (40%) have a Power of Attorney.[1] While Estate Planning rarely makes it to the top of one’s priority list, having a proper estate plan in place will provide you, your loved ones and… Read More »