Since in this blog we are discussing tax rules, I would strongly suggest you to get the advice from a qualified tax specialist. What prompted us to write a blog on the subject is frequent misinformation posted on various popular online forums stating that one must reside in the property for 1 year or more in order to qualify for the hst new construction rebate. Before we get to it let’s quickly recap what is the new construction hst rebate, and how it works in Ontario. A... [read more]

The topic of co-op units come up when someone sees a very inexpensive unit on the market and asks why so cheap, what’s the catch or is it too good to be true. To understand the issue, we will explain what co-op is, how it differs from the typical unit in a condominium and challenges related to buying, selling and owning a co-op. Legal structure. In a co-operative structure the corporation owns the land and each unit in the building, owner of a co-op doesn’t own the unit but... [read more]