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This letter summarizes recent tax developments and tax planning opportunities; however, we recommend that you consult with an expert before embarking on any of the suggestions contained in this letter, which are appropriate to your own specific requirements.
There are several kinds of income or benefit that are not subject to tax under the Income Tax Act. To the extent you can get any of these, you won’t need to pay tax on the income, or in many cases even report it.
In “Around the Courts” in our September 2023 Tax Letter, we wrote about the case 3792391 Canada Inc. v. The King, 2023 TCC 37, where a tenant had been renting a Montreal condo, and living there, since 1996.
The Goods and Services Tax (GST) and Harmonized Sales Tax (HST) form a very complex system, with myriad special rules and exceptions. Many details have changed since the GST first came into force in 1991.
If you are buying real estate — such as a house or condominium, or a commercial property — from a non-resident of Canada, you need to know about your obligation to withhold tax unless the vendor provides you with a “section 116 certificate” from the CRA.
GST New Housing Rebate allowed for laneway house on top of garage