Category: Real Estate

Recently, we have had several real estate transactions with open municipal building permits on the property. Building permits remain open before the construction or renovation has passed final inspection by the municipal building inspector or if there are deficiencies that need to be completed. Open building permits present a challenge for sellers and buyers in real estate transactions and a real risk to the transaction. If work done on an open permit does not pass inspection or if the building

We have acted for many clients who are non-resident Canadian taxpayers selling Canadian Capital Property. We have advised clients who are changing their residency status as they sell. And we have completed many transactions involving non-resident sellers. It is very important for clients who are non-resident or anticipating changing their residency status to seek accounting, tax and legal advice before selling a Canadian property. There are potentially serious tax consequences that might be avoided or mitigated with good advice and