June 10th, 2022
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The Canada Revenue Agency (CRA) wants taxpayers to have the information they need to meet their tax obligations. That’s why the CRA is publishing a new notice related to GST/HST treatment of assignment sales.
As it relates to residential housing, an assignment sale is a transaction in which a purchaser (an assignor) that has entered into an agreement of purchase and sale with a builder of a new house sells (assigns) their rights and obligations under the agreement of purchase and sale to another person (an assignee).
As announced in Budget 2022, a proposed amendment would make all assignment sales of newly constructed or substantially renovated houses or condominium units taxable for GST/HST purposes. The proposed amendment would apply to all assignment agreements entered into after May 6, 2022.
GST/HST Notice 323 - Proposed GST/HST Treatment of Assignment Sales provides questions and answers regarding the proposed amendment, including information on timing, deposits, and tax rebates. Any commentary in this publication should not be taken as a statement by the CRA that the proposed amendment will become law in its current form.
2022 AGM & Member Meeting
Wednesday, June 15, 2022 12:00 p.m. – 1:00 p.m.
Save the date:
Awards Ceremony and Diamond Anniversary Celebration
Thursday, October 27, 2022
More information coming soon!
2022 Presidents’ Luncheon
Thursday, December 8, 2022
More information coming soon!
Industry Webinars and Events
Association of Interior Realtors
Tradeshow & Conference 2022
Wednesday, June 22, 2022 – Thursday, June 23, 2022
June 2022 MIABC Webinar: Leasing Panel
Tuesday, June 21, 2022 12:00 p.m. – 1:30 p.m.
Rental Management Part 3
Tuesday-Thursday June 21-23 from 9:00 a.m. – 12:00 p.m.
WUDI: Building Healthy, Building Happy - Designing for Social Resilience
Tuesday, June 14, 2022 12:00 p.m. – 1:00 p.m.
FortisBC School of Development 2022: The Art of Approvals
Friday, June 17, 2022 8:00 a.m. – 5:00 p.m.
Saturday, June 18, 2022 8:00 a.m. – 2:00 p.m.
SFU Wosk Centre for Dialogue
Strategy Room 320
580 West Hastings Street
Vancouver, BC V6B 5K3
UDI Webinar: Finance Forum
Tuesday, June 21, 2022 9:30 a.m. – 10:30 a.m.
ULI BC: Heather Lands Project - MST, Canada Lands and City of Vancouver Partnership Panel
Thursday, June 16, 2022 12:00 p.m. – 1:00 p.m.
ULI BC: Coffee and Conversations – Sport and Entertainment Anchored Destinations with Architect Kyle Morphy of Populous Architectural Design
Tuesday, June 21, 2022 8:00 a.m. – 8:45 a.m.
ULI BC: Certificate Series - Mixed Tenure Partnerships
Thursday, June 23, 2022 4:00 p.m. – 6:00 p.m.
South Flatz Rooftop Conference Room
565 Great Northern Way
Vancouver, BC V5T 0H8
ULI BC: Champions in the Spotlight - In Conversation with Sheryl Song of Ryna
Wednesday, June 29, 2022 12:00 p.m. – 1:00 p.m.
Property Services Agent - District of North Vancouver
Educational Consultant - UBC Sauder Real Estate Division
Asset Manager - McDermott + Bull Canada
Property Coordinator 2 - BC Hydro
Capital Project Director - Vancouver Art Gallery
Property Representative 1 - RRS - BC Hydro
Property Coordinator 2 - PRS - BC Hydro
Property Management Agent - TransLink
Vice President, Asset Management - BentallGreenOak
Lands Representative - FortisBC
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