Mr Noah Sarna

Noah Sarna

Updates

Corporate Tax

Subjecting transfers of beneficial ownership to property transfer tax is not as simple as it might seem
Canada | March 16 2018

The British Columbia Property Transfer Tax Act applies only to registered transfers of real property. However, significant real property-related tax changes are rumoured to be proposed in the upcoming provincial budget. Any amendment to the act that would tax transfers of beneficial ownership should not be made haphazardly. Such an amendment must be joined by, among other things, a mechanism to relieve the tax where the beneficial ownership is transferred to an affiliate.