Dominic Darmanin

Cell: 604-788-1476 |

On May 27th of this year I wrote about Shadow Banking and the possible implications to the Vancouver and Canadian real estate market in general. On June 17, 2017 Sam Cooper of the Vancouver Sun wrote wrote a more in-depth exposé (well worth reading in full).

 

To refresh, shadow lenders include “include mortgage investment corporations, hedge funds and private lenders such as realtors, crowdfunding companies, real estate lawyers and mortgage brokers.” These are non-banking...

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Bare Trusts – cont...

2nd Instalment:

Tax Treatment of Bare Trusts

A bare trust is generally disregarded for the purposes of the Act.  This treatment allows title to be transferred in certain situations without triggering a taxable event.  However, a taxable event can arise when beneficial ownership of the bare trust property changes, even if there is no change in legal title.

Subsection 104(1) of the Income Tax Act was amended in 2001 to exclude trusts that may reasonably be considered...

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Scenario:

A Canadian citizen who works full time overseas wants to buy a property in British Columbia but the new foreign buyers tax applies. What options might be available to deal with this tax? This series of articles discusses Bare Trusts and how they may help.

1st Instalment:

Bare Trusts What Are They and How Are They Used?

Arrangements involving bare trusts are often used in a number of different commercial transactions.  This article explains what a bare trust is and lists its common uses....

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