Watch a qualified CPA instructor teaching the course and access a copy of the same course material that is provided to attendees of an in-person session.
After registering for a Video on Demand course, CPA Saskatchewan will send you information on how to access the course within 2 business days.
Click HERE for more information on Video-On-Demand courses.
OBJECTIVE:
The seminar identifies and reviews significant income taxation issues arising from various aspects of real estate activities and includes practical, business-focused suggestions for dealing with such issues.
After reviewing the structures available to undertake real estate transactions, this seminar provides a detailed examination of income tax issues arising from the acquisition, development, holding, and disposition of Canadian real estate. Some coverage of provincial tax issues involving real estate will be included. While a brief overview of GST, HST and provincial tax issues is undertaken, participants should be aware that due to its emphasis on income taxes, this seminar does not provide a detailed or complete discussion of the impact of indirect taxes
WHO WILL BENEFIT:
Practitioners and members in industry who work with income taxation issues arising from real estate transactions. Individuals seeking in-depth coverage of real estate GST/HST topics should consider attending the GST/HST – Real Property seminar.
LEARNING OUTCOMES:
By the end of this course, participants should be able to:
- determine the distinction between real property held on account of income or capital,
- identify repair costs vs. capital expenditures,
- apply the rules for interest deductibility.,
- determine when the sale of a house qualifies for the principal residence exemption,
- appreciate the differences between ownership by an individual, a corporation, a partnership, and a joint venture, and
- have a general understanding of the replacement property rules and the change in use rules.
CONTENT:
- Various structures for the ownership and acquisition of real estate.
- The tax treatment of the costs of acquiring, holding, and developing real estate.
- Issues surrounding the disposition of real estate.
- Corporate reorganizations involving real estate.
- Provincial tax issues involving real estate.
PREREQUISITES:
Familiarity with the existing tax rules in the Income Tax Act.