We solve serious CRA tax problems

Real Estate

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Canada first introduced capital gains taxation in 1972. The GST is a federal, value-added tax that applies to the supply of most goods and services in Canada. Almost everyone has to pay GST/HST on the purchase of taxable supplies of goods and services, and on gains realized on the disposition of capital property. These tax can apply to both residential and commercial real properties.

The application of evolving accounting and tax rules to real estate business realities remains a significant challenge. The increase in complexity in the terms of real estate transactions has resulted in diversity of practicesfor revenue recognition by companies in this sector.

Success will require weighing the advice and real estate investing and tax strategies of several professionals – lawyers, insurance agents, lenders, and accountants. This combination of experience is needed to realize the full benefit of your real estate investments.Whether or not push-down accounting for financial statements is appropriate for a particular real estate company requires careful consideration of a number of factors.

The real estate industry is highly susceptible to changing demographics, interest rate, and economic indicators. To maintain a competitive edge, companies need to ensure that they are taking calculated risks and seizing the right opportunities.

At Faris CPA, we understand challenges facing the real estate industry and the concerns of CRA officials. We can bring clarity and simplicity to the issues and complexities that your organization faces on a day-to-day basis by providing high level accounting, financial, taxation, and business advisory services.

Chartered Professional Accountant in Canada, U.S. and U.K.


“I run a small successful business and before some time, I had to do a complex CRA tax audit that was beyond my capacity. I badly needed a good accountant to take care of it. I came into contact with Sam Faris and his team of accountants who fought CRA for me. I have to say, they helped me very much. If you need an expert CPA, Sam Faris is the one I’d recommend.”

Alexander P.

Pro Tip


The Small Business Deduction gives businesses a tax deduction on the first $500,000 of income. This saves an eligible corporation around up to $50,000 in income taxes. There are a number of conditions that have to be met to be eligible for this deduction.