TaxBreaks Podcast


Episode 030 – A Summary of Recent Tax Policy Changes With Canadian Residential Real Estate

  • Published: June 19, 2023 |
  • by: Moodys Private Client

In our latest episode of TaxBreaks, Kenneth Keung and Kim G C Moody discuss Canadian tax considerations – including recent policy changes – with respect to Canadian residential real estate. Specifically, Kenneth and Kim discuss:

  • The principal residence exemption – is it too generous? Should there and will there be amendments to this generous exemption?
  • The newly implemented “property flipping” rule – is it necessary?
  • The new Underused Housing Tax Act – why was this introduced and a brief discussion of the numerous traps associated with this new legislation;
  • The new “Prohibition on the Purchase of Residential Property by Non-Canadians Act” or the so-called “foreign buyers ban” – is this necessary?
  • A brief discussion about provincial and municipal speculation / vacancy taxes.

A lot of the new policy responses are to purportedly respond to the housing shortages that many Canadians are experiencing. However, are such responses more political than grounded in sound public policy? Are they necessary? Join Kenneth and Kim as they have a lively discussion on the above topics.