Tagged : Invest in Vancouver Real Estate

Found 4 blog entries tagged as "Invest in Vancouver Real Estate".

In three years, CRA auditors have reviewed more than 30,000 files and identified nearly $600 million in additional taxes, resulting in over $43 million in penalties

If you sell real estate, expect the taxman to take a close look in continued CRA crackdown

Anyone selling real estate during the year has to report such sales on their tax returns, even if any gain is 100-per-cent tax-free due to the principal residence exemption. Yet it appears Canadians still run afoul of the law when it comes to the appropriate tax reporting of those sales.

In a release last week, the Canada Revenue Agency provided an update on its ongoing project to address “non-compliance in real estate transactions.” The CRA said there continues to be “tax compliance risks in the real estate sector, particularly in the Vancouver and Toronto markets. In response to

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VANCOUVER - Lynne Kent says owning a home in Vancouver that's valued at $4 million isn't the blessing it may appear to be.

She and her husband are among a small group of homeowners in British Columbia facing a tax bump on homes assessed at over $3 million who say they simply can't afford it - a claim that some are questioning.

 Owners of multimillion dollar Vancouver homes speak out against tax bump

"I think the whole property value escalation is more of an albatross than a benefit, and have seen it that way because this whole escalation is really pushing us out of our home," said Kent, 71.

Continue reading Owners of multimillion dollar Vancouver homes speak out against tax bump on CTV News website

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Cambie Corridor to house 50,000 more people

ORIGINAL STORY:

The City of Vancouver has outlined a comprehensive strategy to densify the Cambie Street Corridor
as part of its wider plan to address the region’s housing crisis and optimize the investment made on the
Canada Line.

A full draft of the municipal government’s Cambie Corridor Plan (CCP), released this week, calls for
additional housing to boost the corridor’s population by more than 50,000 people – from 34,700 people
today to up to 85,000 people by 2041.

Nearly 20,000 of these residents will live in new purpose-built redevelopments at the old RCMP
headquarters on the Heather Lands, Oakridge Transit Centre, Oakridge Centre shopping mall,
Langara Gardens, and Pearson Dogwood, and another 7,000 people will live within parts of the

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Spring sales in the Greater Vancouver area's luxury real estate market are down but prices continued
to climb, according to a new report.

Greater Vancouver's  real estate market

Sales activity in the region decreased in the first quarter of 2018: the sales of detached luxury homes
decreased by 38.2 per cent compared to 2017 and the sales of luxury condominiums decreased by
26.5 per cent, the study by real estate company Royal LePage said.

Despite this decrease in sales, the report noted there were still price gains.

The median price of a detached luxury home in Greater Vancouver rose 5.2 per cent to $5,792,941 and the
median price of a luxury condominium rose seven per cent to $2,503,873.

Phil Soper, president and CEO of Royal LePage, said prices have only remained high because

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