Aug 8, 2016 | Strata & Council, Strata Corporations
Balance Sheet The statement of financial position (SFP) or balance sheet is one of the reports commonly presented to Council, Owners and managers for periodic review. This is often a confusing beast for those unfamiliar with it. Hopefully, after reading this article,...Aug 8, 2016 | Strata & Council, Strata Corporations
Income Statement The statement of operations or income statement is one of the reports commonly presented to Strata Council, Owners and professional managers for periodic review. This statement is fairly intuitive but is often not fully understood because the purpose...Jul 26, 2016 | News and Events, Property & Tax
This article describes the introduction of the additional PTT for foreign entities in the GVRD. The tax has since been expanded to other areas and rates may have changed; see current BC government guidance for up-to-date rules. Additional Property Transfer Tax on...Apr 13, 2016 | Not-for-profit Organizations, Strata & Council
Foreign Property Reporting Requirements Canadian residents are required to report their income on a worldwide basis. In addition, every individual must indicate on their personal income tax return whether they own “Specified Foreign Properties” with an aggregate cost...Apr 12, 2016 | Personal Tax and Finance, Property & Tax
Buying or selling real estate, or even just changing the use of your property, can trigger complicated tax implications. Familiarize yourself with these important facts whether you are currently a property owner or if you are thinking about buying your first home....Apr 6, 2016 | Personal Tax and Finance, Property & Tax
Major update needed: several credits described below have been repealed (Family Tax Cut, Children’s Fitness Tax Credit, Children’s Arts Tax Credit). This draft summarizes what remains current and what to remove or label as historical. Raising a family is expensive....