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New Reporting Requirements for Sale of Principal Residences
April 26th, 2017 by Ronald E. Janzen
On October 3, 2016, the Canadian federal government announced that when you sell your principal residence (or are considered to have sold it) you are now required to report on that sale. That is a change. Until now you were not required to report the sale of a principal residence which was tax exempt. Starting in the 2016 tax year (generally due by the end… Read More »
Steinbach Lawyer Now Chairs Health Appeal Board
April 19th, 2017
A lawyer from Steinbach has been appointed to the Manitoba Health Appeal Board. Health Minister Kelvin Goertzen Tuesday announced that Grant Driedger, Joan Holmstrom and Elaine Graham have been appointed. Driedger, who practices at Smith Neufeld Jodoin LLP in Steinbach has been appointed board chair. Driedger’s practice is primarily focused on civil and administrative litigation, as well as real estate, wills and estates. He is… Read More »
Property Tax Clawback on Farmland
April 17th, 2017 by Grant M. Driedger
Farm land that borders growing towns and cities can have its value boosted by the expectation that the farm land will be sold and turned into residential or commercial property. For a farm operator interested in selling, that can be a very good thing. The downside is the property taxes will increase to reflect the change in use, and the change in value. For farm… Read More »
New Rules for Principal Residence Exemptions
April 4th, 2017 by Gemma Brown
In the fall of 2016, the Federal Department of Finance announced a series of changes to the rules governing the principal residence exemption (PRE). These rules include additional restrictions on eligibility for the exemption, and for certain situations, extending the reassessment period of income tax returns for the year of disposition. These changes could impact you, when a sale of your home is made, and… Read More »
