The federal government has instituted an Underused Housing Tax (“UHT”) aimed at foreign investors leaving housing unoccupied. While this tax is not aimed at long-term care (LTC) homes, some corporations may need to file in order to meet the requirements of reporting.
To ensure interested members are fully apprised of their obligations, we will cover the basics of the Federal Underused Housing Tax and how it may apply to LTC, assisted living and independent living operators within Canada.
We encourage LTC, assisted living and independent living owner and operators, managers or in-house legal and accounting to attend this webinar.
Learning outcomes include:
- UHT has a much broader application that the government’s stated target, being “foreign” owners (many wholly owned Canadian entities will be required to file a return)
- A better understanding of whether UHT requires these owner/operators to complete a filing on behalf of the properties depending on certain factors:
- Registered charity or just society?
- More than 3 “Dwelling units”?
- If required to file, examination of criteria for non “foreign” owned.
Join Orla O’Malley, Senior Associate at Borden Ladner Gervais LLP’s commercial real estate group, and Scott Gorski, Senior Associate at Borden Ladner Gervais LLP’s tax and private client group, as they cover the basics of UHT and its applicability to LTC, assisted living and independent living.
Date: Tuesday, April 4th
Time: 12:30 – 1:30 PM
About the speakers
Orla O’Malley is a Senior Associate in Borden Ladner Gervais LLP’s commercial real estate group. She has a combined JD MBA from the University of Calgary. Her practice is focused mainly on transactions and real estate aspects pertaining to those. She has experience advising LTC owners and operators on acquisitions, dispositions, financing and other general legal issues.
Scott Gorski is a Senior Associate in Borden Ladner Gervais LLP’s tax and private client group. Scott clerked at the Tax Court of Canada and has completed the In-Depth Tax Program. Scott regularly advises private corporations on implementing tax driven reorganizations and tax planning for trusts.