Flippers Beware: Anti Flipping Rules Are In Effect!
This 2023, in the desire to generate more income, the federal government is also cracking down certain individuals engaged in flipping residential real estate and improperly reporting the sales as business income. Principal Residence Exemption When a home qualifies as a principal residence, the income from the sale of such home may be exempt from […]
Service by email – no longer requires an Order Deeming Service Good & Sufficient
SERVICE OF COMMENCEMENT DOCUMENTS – ORDER VALIDATING SERVICE NO LONGER REQUIRED WHEN THERE IS ELECTRONIC ACKNOWLEDGMENT FROM THE DEFENDANT Recently, the Court of King’s Bench released a memorandum of the decision made by the Honourable Applications Judge B.W. Summers, Toronto Dominion Bank v Halliday, 2022 ABKB 764, (“Halliday”) which provides guidance as to when an […]
Prohibition on the Purchase of Residential Property by Non-Canadians Act
Beware: Prohibition on the Purchase of Residential Property by Non-Canadian will take effect soon! Due to the skyrocketing housing prices, the Government of Canada has passed the “Prohibition on the Purchase of Residential Property by Non-Canadians Act” (“the Act”). This Act will come into force on January 1, 2023 and would be valid for a […]
Joint Tenants in Investment Properties – making sure intentions are clear!
NEWHOUSE v GARLAND: DOCUMENTATION AND ERRING ON THE SIDE OF CAUTION The B.C Court of Appeal, in a 2-1 decision Newhouse v Garland 2022 BCCA 276, confirms the Chamber’s Judge Decision that the Appellant Ms. Patricia Newhouse failed to prove, on a balance of probabilities, that she and the deceased Bob Garland intended to hold […]