Starting in Q3 of 2023, the transition market has picked up as interest rates stabilised and the economic outlook became more positive. Interest rates are expected to hold steady or decrease slightly in 2024. Is now a good time to buy a dental … [Read more...]
Just for Dentists Newsletters
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Mar, 2024 The BC Budget- what you need to know
March 6, 2024 by
1. Targeting home flipping The 2024 B.C. Budget introduces a tax on proceeds from the sale of residential real estate in British Columbia. Effective for properties sold after December 31, 2024, the tax targeting home flipping activity will apply to … [Read more...]
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Dec, 2023 Expansion of BC Speculation and Vacancy Tax to more Communities
December 27, 2023 by
The BC government announced it is expanding the current Speculation and Vacancy Tax to include 13 more communities below: Vernon, Coldstream Penticton, Summerland Lake Country, Peachland Courtenay, Comox, Cumberland Parksville, … [Read more...]
27
Dec, 2023 Fall Economic Summit Release
December 27, 2023 by
On November 21, 2023 the federal government released its annual Fall Economic Summit. Some of the key highlights to note are as follows: Rental expense deduction for non-compliant short-term rentals A new rule prevents short-term rental … [Read more...]
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Dec, 2023 Don’t let the lease termination spoil your retirement
December 27, 2023 by
After 25 years of looking after patients, Dr. Bob, who just turned 60, looks forward to working less and spending more time on his leisure activities. He is planning to sell his practice in a few years. When he checked the lease, he realized he … [Read more...]
8
Nov, 2023 CEBA Loan Deadline Extension
November 8, 2023 by
CEBA Loan Deadline Extension The government announced a long-awaited deadline extension for the Canada Emergency Business Account (CEBA) loan repayments. Deadline Extension The repayment deadline has been extended to January 18, 2024 (from the … [Read more...]
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Nov, 2023 Don’t miss the (FHSA) contribution deadline of December 31
November 8, 2023 by
The deadline to contribute to a First Home Savings Account (FHSA) and get a deduction on your 2023 tax return is December 31, 2023. We previously wrote about the details of the program … [Read more...]
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Nov, 2023 Short-Term Rental Rules and UHT Deadline Updates
November 8, 2023 by
On October 26, 2023, only 10 days after the drafted legislation was released (see previous article) the NDP passed the legislation without any of the amendments that the opposition BC United Party had suggested. While the regulations to support the … [Read more...]
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Nov, 2023 Immediate Expensing Deadline: December 31, 2023
November 8, 2023 by
The 2021 Federal Budget brought in rules that allowed individuals, partnerships, or private corporations to entirely write off asset additions (some types of assets, such as buildings, were excluded) in the year of acquisition, unlike in previous … [Read more...]
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Oct, 2023 The Short-Term Rental Accommodation Act: Targeting Airbnb, VRBO etc.
October 19, 2023 by
The B.C. government introduced the Short-Term Rental Accommodation Act on October 16, 2023, in response to the housing crisis of long-term rentals. It aims at the estimated 16,000 homes in B.C. that are used exclusively as short-term rentals … [Read more...]
