An Overview of Partnership Taxation in Canada

Types of Partnerships A partnership is a business arrangement between two or more people who do business together for profit (section 2, Partnerships Act, R.S.O. 1990, c. P.5). Notably, a partnership is not a separate legal entity from its partners. Certain...
Forced Sales of Property Under the  Partition Act

Forced Sales of Property Under the Partition Act

A lot of people own land. It might be a place to live, a location to invest, or both. Land can also be held by many people. Land can be co-owned in one of two ways: as joint tenants or tenants in common. Each joint tenant owns 100 percent of the land in undivided...

LAND TRANSFER TAX IN ESTATE TRANSFERS

What is Land Transfer Tax (LTT) and Who Pays LTT? Land Transfer Tax (LTT) is a tax payable to the government upon the closing of a transaction for the purchase of either land or an interest in land.[1] Who Pays LTT? In Canada, every province except Alberta and...