News and Insights

CRA Info Sheet GI-045, “Residential Care Facilities and Proposed Changes in the 2008 Budget”

Tax Development Mar 12, 2008

The Canada Revenue Agency has released this info sheet to explain the proposed amendments, announced in the 2008 Federal Budget, that affect both purchasers and builder-operators of residential care facilities. In particular, it explains the extension of the new residential rental property rebate to certain residential care facilities such as nursing.