Gill & Mulholland LLP

04/02/2023

The deadline to declare your residential property's occupancy status for 2022 was February 28, 2023. Starting at the end of March 2023, the City will send out a Notice of Assessments to those required to pay the Vacant Home Tax (otherwise known as the VHT). For those who declared their residenti

03/28/2023

The deadline to declare your residential property's occupancy status for 2022 was February 28, 2023.

Starting at the end of March 2023, the City will send out a Notice of Assessments to those required to pay the Vacant Home Tax (otherwise known as the VHT).

For those who declared their residential property as vacant, the assessment will hopefully not be too much of a shock.

For those who didn't file the declaration in time or did but believed that they would not be subject to the VHT, the Notices will likely come as an unpleasant surprise.

If you do receive a Notice of Assessment, then you should ask yourselves two questions:

First, is your property actually subject to the Vacant Home Tax?

Second, is the amount of Vacant Home Tax you are being asked to pay correct?

In our recent blog post, we examine these issues before explaining your options if you do disagree with the assessment.

The deadline to declare your residential property's occupancy status for 2022 was February 28, 2023. Starting at the end of March 2023, the City will send out a Notice of Assessments to those required to pay the Vacant Home Tax (otherwise known as the VHT). For those who declared their residenti

02/04/2023

No lawyers required in this creative solution… https://apple.news/AT7mO4S5LRYSfdIaiK2-u0Q

01/06/2023

On January 1, 2023, legislation that excludes Non-Canadians from purchasing residential properties in Canada but for some exceptions came into effect. The legislation was enacted to make homes more affordable. Let us know your thoughts below. Do you think it will have the intended impact? Do you think it was the right move, or does it go too far?

01/05/2023

Day 2: Cooling Off Periods. As of January 1, 2023, buyers are now automatically granted three business days to reconsider a purchase in British Columbia. It means it is no longer up to buyers and sellers to include provisions in their agreements to allow them time to reconsider, but it is now automatic. Buyers can walk away by paying .25% of the purchase price. Ontario does not currently have a similar cooling-off period (except for purchasing new condos). Still, there is undoubtedly a risk similar provisions are being considered in Ontario. What do you think about this these provisions? It is clear they protect buyers, but what are the consequences? Let us know your thoughts in the comments below.

01/04/2023

01/02/2023

The real estate market was in flux in 2022. 2023 is likely to be equally unstable as interest rates continue to rise, talk of a possible recession, and various levels of government are taking steps to try to make houses more affordable for first-time home buyers. In addition, new legislation will be coming into force on April 1, 2023, which will significantly impact real estate agents and the way homes are bought and sold in Ontario.

However, real estate agents can get ahead of the competition and have a smoother transition into 2023, and we want to help.

Starting January 3rd and over the next 30 days, we will provide snapshots of those changes impacting real estate agents and their clients from a lawyer's perspective and some ways to help you navigate them.

Follow us on Facebook or Instagram, so you don't miss any updates and feel free to share this post or any of the updates with your friends, family, colleagues or anyone else who would be interested.

12/22/2022

Do you want to learn 10 Ways to help you avoid a real estate complaint and to protect your reputation?

All you need to do is click the following link, and the 10 tips will be sent to your email inbox: https://app.lawmatics.com/forms/share/eb0b94d7-1cfd-4cbf-9c92-bc5499904b81

You will also be subscribed to our monthly newsletter, which provides insights about changes to the regulations and legal decisions that impact you and your clients.

11/27/2022

A great example of realtors providing sound advice to clients, “[prospective buyers]were cool. They had conditions. And their numbers were conservative. Even in competition.” LACKIE: Buyers in driver’s seat as sellers ride out real estate rough seas - Sun

I got some blowback last week when I suggested that while quite clearly the housing market is in the throes of a strong correction, life and real estate continues on. No, I was not shilling for my industry and, by extension, one might assume, my livelihood. Yes, I still absolutely believe that thing...