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 on real estate.

Topics include:

· 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: Knowledge, Experience or Courses:

Participants taking this seminar should possess familiarity with the existing tax rules in the Income Tax Act.

Applicable for

Although applicable to most tax professionals, this session is designed especially for 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 Objectives

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.

· Have a general understanding of the replacement property rules and the change in use rules.

Seminar Leader: Joe Marchello

What to Expect

· This is a Live Virtual Seminar where class size has been limited to allow for an interactive learning environment.

· This seminar will not be recorded.

· Course materials, links and credentials will be emailed to you two business days before the seminar. Once sent, the email will also be found in your Account Communication tab of the CPA Manitoba Member Portal.

· Live webinars have varying levels of expected interaction, and some may require webcam and microphone capabilities – if you have concerns about the interaction required for this course, please email [email protected]

CPA Manitoba PD Terms and Conditions