
Tax Implications of a Real Estate Assignment: a Tax Exposure Calculator
Tax Implications of a Real Estate Assignment: a Tax Exposure Calculator This article provides an overview of GST/HST and Income Tax rules (current and proposed by the Federal Budget 2022) as they apply to real estate assignments sales. In order to illustrate the points we discuss in the article, we have created a fun and interactive Assignment Tax Exposure Calculator for real estate assignments in Ontario (HST rate 13%) that result in business income for Income Tax purposes.