Our client, Aoyuan Property Holdings (Canada) Ltd. and affiliates, have completed approximately $189,000,000 in purchases of BC real estate in 2017. In February, a series of properties on Granville Street, Vancouver, were acquired. In three transactions in May and June, Aoyuan completed the purchases of seven redevelopment parcels in the Brentwood-Willingdon area of Burnaby. Aoyuan plans to redevelop the Brentwood-Willingdon properties over the next several years with approximately 1.2 million square feet of multi-family residential development.
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Quebec Introduces Minimum Mining Taxes
On May 6, 2013, the Government of Quebec unveiled its new mining tax regime. Starting in 2013, all mining operations will be required to pay a royalty or a tax on profits, whichever is greater under Quebec’s new mining tax regime.
From now on, all mine operators active in Québec will have to pay a minimum royalty to the Government applied to the value of the ore extracted at the mine shaft head. To take the situation of smaller operations into account and make it easier to start a mining project, the royalty rate will be set at 1% for the first $80 million of ore extracted. For the excess, the rate will be 4% of the value of ore extracted. This royalty does not consider whether the operation is profitable. Also, this royalty tax does not permit deductions for other royalties that may also be payable on the same ore extracted.
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Clark Wilson Lawyers Recognized in the 2023 Edition of Best Lawyers in Canada
Best Lawyers® in Canada™ has named 34 of Clark Wilson’s lawyers for being peer-selected in their 17th edition for 2023. These lawyers have been recognized ... Continued
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Clark Wilson joins BC’s Justicia Project
Clark Wilson is pleased to announce our participation in the Justicia Project, a Law Societies initiative with the strategic aim of supporting the retention and ... Continued