Tax and Residential Real Estate - The ABCs of GST, PST, FBT and EHT

Course Chair
Terry G. Barnett — Thorsteinssons LLP, Vancouver

About the Course Chair
Terry G. Barnett is a partner working out of the Vancouver and Toronto offices of Thorsteinssons LLP. His practice focuses on the Harmonized Sales Tax (HST), Goods and Services Tax (GST), Provincial Sales Tax (PST), customs law, land transfer taxes, municipal taxation, and all other Canadian commodity and indirect taxes. Terry has practiced in the GST area since the inception of the tax in 1991 and writes extensively on GST/HST and other indirect tax matters in Canadian and international publications. Areas of particular experience include real estate development, financial services, cross-border transactions, health care and medical practitioners, First Nations, and charities/non-profits. Terry’s practice also includes PST and GST/HST appeals and litigation. Terry was called to the Ontario bar in 1989 and the BC bar in 1993.

Faculty
Terry G. Barnett — Thorsteinssons LLP, Vancouver
Raluca Dogaru — Policy and Legislative Analyst, Property Taxation Branch, BC Ministry of Finance, Victoria
Heidi B. Granger — Assistant Director, Development and Real Estate, City of Vancouver Law Department, Vancouver
Noah Sarna — Thorsteinssons LLP, Vancouver

Click here for full faculty bios »

Welcome and Introduction

Nuts and Bolts of GST and Residential Real Estate

• overview of GST basics
• collecting tax, input tax credits, and rebates
• when are residential transactions exempt and taxable

Terry G. Barnett — Thorsteinssons LLP, Vancouver
Noah Sarna — Thorsteinssons LLP, Vancouver

Nuts and Bolts of PST and Residential Real Estate

• when does PST apply to construction?
• specific rules governing who is liable to pay
• how to shift the tax burden
• BC's "gotcha" tax — trap for unsuspecting contractors
• contracts with exempt purchasers
• working with First Nations

Terry G. Barnett — Thorsteinssons LLP, Vancouver
Noah Sarna — Thorsteinssons LLP, Vancouver 

Networking Break

Current GST Issues in Residential Development, Construction, and Sales 

• "house hoppers" and CRA response
• land and additional acreage — what is exempt and what is taxable? 
• residential development on the First Nation Reserves
• resort properties
• joint ventures/bare trust issue

Terry G. Barnett — Thorsteinssons LLP, Vancouver
Noah Sarna — Thorsteinssons LLP, Vancouver 

Panel Discussion – Current Issues, Best Practices, and Ethical Issues

Terry G. Barnett — Thorsteinssons LLP, Vancouver
Noah Sarna — Thorsteinssons LLP, Vancouver

Lunch

Overview of the Foreign Buyers Tax

• background to the FBT
• what property is subject to the FBT?
• what transferees are subject to the FBT?
• how is FBT calculated?
• FBT surprises, possible upcoming changes?

Terry G. Barnett — Thorsteinssons LLP, Vancouver
Noah Sarna — Thorsteinssons LLP, Vancouver

Overview of the Empty Homes Tax

• background to the EHT
• what property is subject to the EHT?
• what use of property is required to avoid the EHT?
• what exemptions are available?
• how is the EHT status of the property reported?
• how can EHT assessments be disputed?

Terry G. Barnett — Thorsteinssons LLP, Vancouver
Noah Sarna — Thorsteinssons LLP, Vancouver

Networking Break

Panel Discussion — FBT, EHT, and Lots of Unanswered Questions

Terry G. Barnett — Thorsteinssons LLP, Vancouver
Raluca Dogaru — Policy and Legislative Analyst, Property Taxation Branch, BC Ministry of Finance, Victoria
Heidi B. Granger — Assistant Director, Development and Real Estate, City of Vancouver Law Department, Vancouver
Noah Sarna — Thorsteinssons LLP, Vancouver

Questions & Discussion