Earlier today, the British Columbia government announced that the property transfer tax rate payable by foreign entities on purchases of residential property in the Greater Vancouver Regional District will increase to 15%. This increase in PTT payable will come into effect on Tuesday, August 2, 2016, and will be payable regardless of when the purchase agreement for the property was entered into. The additional tax applies on a foreign entity’s proportionate share of any applicable residential property transfer, even in certain circumstances when the transaction may normally be exempt from property transfer tax. For further details, please see:
Sarah Jones
PartnerRelated Content
Clark Wilson Names New Managing Partner James Speakman
Clark Wilson LLP is pleased to announce that James Speakman has been appointed Managing Partner of the firm, effective April 1, 2014. James’ career of ... Continued
Copyright or Trademark Protection? Sometimes, It’s Both.
In general parlance the terms “copyright”, “trademark”, and “patent” are often incorrectly interchanged, much to the chagrin of IP practitioners. While all three types of ... Continued
Clarifying “Reasonable Security Arrangements”: Privacy Commissioners Update Their Guidance
With the increasing frequency of phishing, malware and other cybersecurity threats, and the growing legal and reputational impacts of data breaches, securing your organization’s data ... Continued