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Real Estate Practice Group

At Manning Elliott, we recognize the unique opportunities and tax challenges that the vibrant real estate market in British Columbia presents. Our Real Estate Practice Group is your trusted partner for real estate accounting, offering specialized financial expertise tailored for the dynamic landscape of BC’s real estate industry.

1. Buying or Selling Your First Home

As a homeowner in Canada, you benefit from the capital gains exemption as long as it is your principal residence. As your home is one of your biggest investments in your life, how do you make sure that you will qualify for that exemption? Knowing the pitfalls and how to avoid them is where our real estate accounting specialists can help.

2. Landlord or Investor

As a landlord or investor, how you structure your real estate holdings (hold personally or through a company) can impact your tax reporting requirements. We help clients understand the tax consequences of each different structure and meet the growing list of government filing requirements. When the time comes to sell the property or pass it on to the next generation, we can help you determine the different options available to transfer those assets and their tax implications.

3. Property Development

Depending on the structure (corporation, limited partnership, or joint venture) you need to ensure you meet your investors’ needs as well as those of your debtholders. This oftentimes involves regular financial reporting. Lenders will often request your financial reports be audited or reviewed by a professional CPA firm. As a full-service professional real estate accounting specialists, we have the expertise at providing audited or reviewed financial statements in compliance with the appropriate accounting standards.

4. Non-resident Holdings of Canadian Real Estate

Many Canadians work overseas while still maintaining their Canadian property. Whether you can declare yourself a non-tax resident of Canada while holding Canadian property is oftentimes based on the facts of the situation. When done incorrectly, this may result in some very unintended tax consequences. Our real estate accounting team can help you understand the various tax risks and filing requirements before you make that move overseas.


Get to know Our Industry Experts:

Lyndon Braun – Partner at Manning Elliott Vancouver

Matthew Ko – Partner at Manning Elliott Vancouver

Tina Lu – Partner at Manning Elliott Vancouver

Raymond Lu – Partner at Manning Elliott Vancouver

 

Real Estate Practice Group

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