GST/HST Real Property Webinar
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This webinar will cover GST/HST rules for real property transactions in Canada. It will discuss the taxation of commercial property sales, various development ownership structures, sales of land by individuals, sales of new housing, renovations and conversions, and transactions involving charities. The presenters will be Garth Steele from Welch LLP and Sybil Johnson-Abbott from Borden Ladner Gervais, and they will take questions from attendees at the end.
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GST/HST Real Property Webinar
- 1. Welcome to Today’s Webinar GST/HST & Real Property Transactions in Canada
- 2. Questions • Attendees are in listen-only mode • This webinar is being recorded for future on-demand playback • Your participation represents acknowledgement that we are recording • Tweet questions & comments to: #WelchTax Windows Mac Tablet Ground Rules
- 3. Garth Steele, CPA, CA Indirect Tax Partner – Welch LLP gsteele@welchllp.com www.welchllp.com @WelchLLP Sybil Johnson-Abbott Partner – Borden Ladner Gervais (Ottawa) sjohnsonabbott@blg.com www.blg.com @BLGLaw Presenters
- 4. • Introduction • Sale of Commercial Property • Development Ownership Structures • Sales of Land by Individuals • Sales of New Housing • Renovations, Conversions & Build-to-rent • Charities / Not for Profits • Audience Q & A What we will cover today
- 5. Intro • What’s taxable? • What’s exempt? • Importance of understanding the rules
- 6. Sale of Commercial Property • Registration of purchaser • Self-assessment provision
- 7. Development Ownership Structures • Bare trusts • Joint ventures • Partnerships • Corporations
- 8. Sales of Land by Individuals • Unique exemptions • Need to provide a clear indication as to tax status
- 9. Sales of New Housing • New housing rebate • Rental property rebate
- 10. Renovations, Conversions & Build-to-rent • Substantial vs. Non-substantial • Change of Use • Self Assessment
- 11. Charities / Not for Profits • Sales and Rentals often exempt • Election to charge HST
- 12. Garth Steele, CPA, CA Indirect Tax Partner – Welch LLP gsteele@welchllp.com www.welchllp.com @WelchLLP Sybil Johnson-Abbott Partner – Borden Ladner Gervais (Ottawa) sjohnsonabbott@blg.com www.blg.com @BLGLaw Audience Q & A
Editor's Notes
- Darryl
- Darryl - introductions: Garth Steele, CPA, CA, Indirect Tax Partner, is Welch’s in-house expert for GST, HST, Payroll taxes, and other Provincial Sales Taxes and helps clients understand the implications related to harmonization of the Federal and Provincial sales tax regimes. Sybil Johnson-Abbott, Partner of Borden Ladner Gervais (Ottawa), is a member of the Ottawa Commercial Real Estate & Commercial Lending Groups. She acts on purchases and sales transactions for commercial, residential, condominium and rural properties. She also advises on municipal related real estate, including expropriation matters, land development, subdivision and site plan agreements, and applications for severance.
- Questions: 1. We report HST for a partnership property in the name of the general partner. Is this a problem? 2. We made a joint venture election on a property. One of the owners is selling his 10% interest to a new owner. The new owner is not registered for HST. Does the JV operator have to collect HST on the sale? 3. We are a community health centre that is a registered charity. We just bought a new building to allow for expansion. We don’t need all the space right away so we want to rent it out. A coffee chop wants to rent from us. Do we charge HST? 4. Can a joint venture appoint an operator retroactively? 5. We operate a joint venture. Invoices from suppliers come in the name of the bare trust corp. that holds title to the land. CRA is denying input tax credits. How can we fix this problem.