Canadian Federal Corporations Must Disclose Information on Control Corporate Law | Insights Jan 22, 2024 Download PDF Author: Edmond Wong, Janet Lee Effective as of January 22, 2024, the Canada Business Corporations Act is amended such that federal corporations must file information relating to individuals with significant control (“ISC”) over...
Reminder for Ontario Corporations to Declare Land Ownership Corporate Law | Insights Mar 30, 2023 Author: Janet Lee On December 10, 2016, the Forfeited Corporate Property Act (the “FCPA”) came into effect. This statute requires all corporations existing under the Ontario Business Corporations Act (the “OBCA”) to maintain registers of...
MBB LAW INSIGHTS SERIES - REAL ESTATE Prohibition on the Purchase of Residential Property by Non-Canadians Act By: Jimmy Lu Date: January 3, 2022 The Prohibition on the Purchase of Residential Property by Non-Canadians Act[1] (the “Act”) enacted January 1, 2023, bans all non-Canadians from purchasing residential real estate in...
MBB LAW INSIGHTS SERIES - REAL ESTATE Underused Housing Tax Background The Underused Housing Tax Act imposes an annual 1% underused housing tax (UHT) on the value of vacant and underused residential properties owned directly or indirectly by those who are not Canadian citizen or a permanent resident of Canada....
MBB LAW INSIGHTS SERIES - REAL ESTATE Toronto Vacant Home Tax Background As of January 1, 2022, City of Toronto’s By-law 97-2022 supporting the new Vacant Home Tax (VHT) came into effect. The goal of the VHT is to increase the supply of housing by discouraging owners from leaving their...
