Few years ago laneway housing became a bit of a hot topic in Toronto due to affordability and lack of rental units, the city made changes to the permit process to make it easier to build, and even introduced development charges deferral program for qualified laneway suits, as well as affordable laneway suits program (which was quickly discontinued due to lack of funding and low popularity).  in this blog we would like to address if the laneway homes are a good investment and are they in... [read more]

Very often we are faced with a situation where a person moves temporarily from one city to another, a property becomes a rental unit or a rental unit becomes principal residence. The question is: does a person have to occupy the property all the time for it to be deemed principal residence, and be it exempt from capital gain tax for the period the owner does not ordinarily occupy it? There are certain elections one can make in order to defer the capital gain taxes when there is a change... [read more]