Along comes complicated federal Underused Housing Tax, just as property owners are busy filing returns for the city’s vacant unit tax, says Bob Aaron.
As if property owners in Toronto didn’t have their hands full filing returns for the City’s vacant unit tax, along comes the federal, which will, no doubt, be a surprise to people who own homes everywhere in Canada, whether or not they are Canadian citizens.
The new federal tax mostly applies to non-resident and non-Canadian owners, but, in some cases, it also applies to Canadian owners. There is no tax where the unit has been occupied for at least 180 days in the calendar year, but, in calculating occupancy,Different rules apply if an individual owns multiple residential properties.
Other affected owners are Canadian corporations without share capital, foreign corporations, and Canadian corporations whose shares are not publicly traded.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
B.C. Housing investigating whether affordable housing units may be renting on AirbnbThe B.C. Liberals have branded the HousingHub program a \u0022massive housing flub\u0022 and a mismanagement of affordable housing programs.
Read more »
Toronto 2023 Budget Finalized, With $2B Allocated to HousingToronto's 2023 budget includes over $2B allocated to housing initiatives, as affordability and supply continue to be hot issues across the city. cityoftoronto | Toronto housing budget TOpoli
Read more »
LIVE UPDATES: Toronto City Council considers the budgetFollow along here for live updates as Toronto City Council considers the 2023 budget.
Read more »
LIVE UPDATES: Council chambers cleared at city hall as protesters chant at mayor during budget meetingFollow along here for live updates as Toronto City Council considers the 2023 budget.
Read more »
Council chambers cleared twice at Toronto city hall as protesters chant at mayorAfter clearing the council chambers twice due to protestors, Toronto city council has now broken for a 90-minute lunch. The budget debate has not yet started. Live updates:
Read more »
LIVE UPDATES: Council okays biggest tax increase in decades as rowdy budget meeting continuesFollow along here for live updates as Toronto City Council considers the 2023 budget.
Read more »