Dominic Darmanin

Cell: 604-788-1476 |

A B.C. Supreme Court has put Realtors, Notaries and Lawyers on notice to accurately and honestly report clients actual residency status. Foreign buyers have previously stated that they are Canadian residents which allowed them to avoid paying the applicable Capital Gains Tax to Revenue Canada. Apparently this requirement has not been seriously enforced even though the it is a requirement under the Tax Act. Now, with this ruling, Revenue Canada has reclaimed its right to tax non-residents on any profit...

Read full post

Investors Create Global Home Vacancy Crisis

Vacancy statistics in some of the world's major developed cities is dumbfounding.

Paris for instance, has 107,000 homes sitting empty equating to 7.5% of their total number of homes. To deal with the crisis Parisian authorities imposed a 20% tax on the fair market value of rent on these vacant homes. This effort proved to be an insufficient deterrent thus on January 2017 the tax was increased to 60%. This exorbitant tax attempts to mitigate speculation...

Read full post

#BC #Government's #Doublespeak on the 15% #Foreign #Buyers #Tax - Any Surprise?

The B.C. Government is talking out of both sides of its mouth regarding the 15% foreign buyers tax.
Could it have anything to do with the upcoming provincial election on May 9th? One can only wonder.

According to UBC Urban Studies professor David Ley, Chinese investors believe that the 15% tax is not permanent. In fact, Christie Clark has already relaxed the rules allowing non-citizens...

Read full post

Try and make sense of the following headlines and statistics coming out the the U.S. just this past week:


~Against expectations of a 0.5% jump, pending home sales tumbled 2.5% in January - the biggest drop since Dec 2013.


~Existing-home sales increased last month and were considerably higher than the start of 2015, but price growth quickened to 8.2 percent – the largest annual gain since April 2015 (8.5 percent).


~First time buyers in high demand areas continue to encounter...

Read full post

New CRA Principal Residence Rule to help Monitor Flippers


In an effort to clamp down on “flippers” also known as “shadow flipping” CRA now requires that home sellers complete a newly updated Schedule 3 Capital Gains (or losses in 2016) in order to claim the capital gains exemption.


This change came into affect in October of 2016. Prior to this change CRA did not require home sellers having to report the sale of a principal residence if the entire gain was tax...

Read full post
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.