Updates

I think the federal government is reading our emails! A day after we emailed about the mess with capital gains, the government announced they are deferring the date on which the capital gains inclusion rate would increase from one-half to two-thirds on certain capital gains.  The old effective...

Capital Gains - What a Mess It seems our latest emails are about taxes - and we are not accountants. The capital gains tax is a mess!  Sometime last spring the federal liberal government proposed to raise the portion of capital gains on which companies pay tax to two-thirds from one-half. ...

Happy New Year - and another tax First off - Happy New Year. I hope you had a wonderful holiday season and 2025 is starting off great for you. Now for some bad news - as of January 1, 2025, the BC Home Flipping Tax has taken effect. If you are selling property after this date and have owned...

Holiday Wishes from Spagnuolo LLP For years I have been writing to Santa and even though I always received the correct Christmas present, I was never quite sure Santa read my letter. Well that has all changed.  This year Santa not only read my letter, he sent me a video showing that he...

Judy Wong joins Spagnuolo LLP I am happy to announce that Judy Wong has joined Spagnuolo LLP. Judy has been practicing law in the Tri-Cities since the 1990's, and her areas of practice include a full range of solicitor services, including business law, commercial financing, corporate...

We have all heard of racist covenants placed on various properties in the province, whereby a property is not allowed to be sold to a person of a certain ethnicity.  These are illegal and unenforceable and are generally  removed from title without issue once the Land Title Office is...

Good morning, our final email of the summer, and much like last one, it deals with covenants on title. Another article appeared in the Vancouver Sun yesterday regarding covenants on title -  Neighbours clash as Coquitlam land assembly blocked by 1960s covenant | Vancouver Sun. This article is...

Great article on front page of Vancouver Sun today - https://vancouversun.com/news/prospective-buyer-burnaby-home-multi-unit-property-hitch. A seller wants to sell their home in Burnaby. A Buyer wants the home to build a multi unit building. No problem right? Wrong - there is a building...

Good news, no video of me today! In other news, Land Use Contracts are no longer relevant. If you see them on a title search you can disregard them. What about other non-financial charges on title you ask? That is where Terra Firma Title Review (terrafirmareview.com) comes into play. ...

Considerations When Purchasing a Pre-Sale Home Buying a home that does not complete for some time has some unique considerations. Who is the developer and what is their track record? When is closing?  May I assign the unit prior to closing, either with or without penalty?  What if there are...