Michelle Iezzi, Barrister & Solicitor
102-2680 Matheson Blvd. East L4W 0A5 Mississauga, ON, Canada

Whether buying, selling or refinancing your property, our firm can help. We are dedicated to providing our clients with high quality and professional legal services that are both personalized and cost-effective. We specialize in all areas of Real Estate Law, including: Buying or Selling of Residential Property... Buying or Selling of Commercial Property Mortgage Refinancing Transfer of Title Assignment Independent Legal Advice Independent Legal Representation Reviewing and Revising Residential Leases Reviewing and Revising Commercial Leases We also offer flexible business hours, which allows us to accommodate our clients' busy schedules. Call us today to BOOK A FREE CONSULTATION (647) 823-7330 Michelle Iezzi, Barrister & Solicitor 3901 Highway 7, Suite 601 Woodbridge, ON L4L 8L5 [email protected] To learn more visit www.michelleiezzilaw.com

There seems to be a common misconception that the government takes your estate if you die without a will but this is not true. In Ontario, when a person dies intestate (without a will), the Succession Law Reform Act (SLRA) governs how the estate will be distributed. This distribution varies depending on the (1) value of the estate, (2) the marital status of the deceased, and (3) the family alive at the time of death. An exception to the rules under the SLRA arises, howev...Continue reading

If you have purchased a newly built home or condo with the intention of using it as an investment property, you may be eligible for the New Residential Rental Property Rebate (Rebate). Unlike the New Housing Rebate, however, the NRRP Rebate cannot be assigned to the builder. Consequently, the buyer must pay the HST upfront, and later submit an application to the CRA to receive a refund. The NRRP Rebate must be applied for within the two-year period following the day the tax... becomes payable. In order to qualify for the NRRP Rebate as a residential purchaser/landlord, you must satisfy the following criteria: You are not a co-operative housing corporation; You are not a builder of the complex for GST/HST purposes; Your purchase of the residential complex, or interest in it, was taxable; You paid all of the tax payable on the purchase; You are not entitled to claim an input tax credit (ITC) for the GST/HST you paid on your purchase; and When the tax became payable on the purchase, the residential complex was a QUALIFYING RESIDENTIAL UNIT (as discussed in my last post) or the complex contained one or more qualifying residential units. Keep in mind, the first use of the unit must be used as a primary place of residence. If you acquire an interest in a house or condominium before anyone has lived in it, or before the complex is registered as a condominium with the primary intention to sell the unit, you will not be eligible to claim the NRRP Rebate. When applying for the rebate, you will be required to provide supporting documentation along with your application, including a copy of your agreement of purchase and sale, your statement of adjustments received on closing, and your rental or lease agreement. As with the New Home Rebate, the NRRPR for the federal portion of the GST/HST is reduced where the purchase price exceeds $350,000, and is completely eliminated where the purchase price is equal to or exceeds $450,000. The provincial component of the NRRP Rebate in Ontario, however, is available up to a maximum of $24,000 per unit regardless of the purchase price. NOTE: if the qualifying residential unit is sold within one year after it is first occupied as a place of residence to a purchaser who is not buying the unit for his or her use as a primary place of residence or for a relation of the purchaser you will be required to repay an amount equal to the rebate plus interest at the prescribed rate. Disclaimer: the above discussion is limited specifically to the applicability of the NRRP Rebate to purchasers/landlords. For more information, feel free to contact us to discuss your eligibility.

QUALIFYING RESIDENTIAL UNIT TEST If you answer NO to any of the following questions, the unit is NOT a qualifying residential unit and NO NRRP rebate is available for that unit: 1. Is the unit a residential unit?... 2. Does at least one of the following apply? a. You own or co-own the unit, or lease or sublet the unit from another person. b. You have possession of the unit under an agreement of purchase and sale. c. If the unit is in a residential complex, you lease or sublet the unit from another person. 3. Is the unit a self-contained residence (i.e. contains private kitchen facilities, a private bath, and a private living area) 4. Do you hold the unit for any one of the following purposes? a. To make an exempt lease or sublease of the unit for use by an individual as a place of residence (including an exempt lease or sublease of the unit that you make to another person if that person holds the unit to make an exempt sublease of the unit for use by an individual as a place of residence). b. To make an exempt supply of property or a service that includes giving possession or use of the unit under a lease, licence or similar arrangement entered into for the purpose of the unit’s occupancy by an individual as a place of residence c. To make an exempt sale of the unit and an exempt lease of the related land under a single written agreement. d. To occupy the unit as your primary place of residence where another unit situated in the same complex is a qualifying residential unit that you hold for one of the purposes listed above. 5. Was the first use of the unit (or is it reasonable to expect that the first use of the unit will be) one of the following? a. Your or your relation’s primary place of residence for a period of at least one year (or for a shorter period if, after the shorter period, the unit is leased to an individual who will occupy the unit as their primary place of residence). b. A lessor’s, or their relation’s, primary place of residence for a period of at least one year (or for a shorter period if, after the shorter period, the unit is sold or leased to an individual who will occupy the unit as their primary place of residence). c. An individual’s primary place of residence and the individual will occupy the unit continuously for a period of at least one year (or for a shorter period if the unit is sold to another person for use as the primary place of residence of that person or a relation to that person, or taken by the person or lessor, or a relation of the person or the lessor, for use as their primary place of residence). 6. If, after the first use, you intend to occupy the unit or to lease it as a place of residence or lodging to an individual who is a relation, shareholder, member, partner, or an individual with whom you are not dealing at arm’s length, will the unit be the primary place of residence of the individual?

In Canada, if you die without a Will you are considered to have died "intestate." In Ontario, when this occurs, your estate will be distributed in accordance with the Succession Law Reform Act. When dying intestate, there are several issues you should be aware of: 1 Your spouse is not entitled to your entire estate;... 2 If you have a common law spouse, they do not have a statutory right to inherit your assets; 3 If you have minor children, any funds in which they are entitled will be paid into court and managed by the Accountant of the Superior Court of Justice of Ontario who will decide how those funds should be invested and what amounts should be paid for your children's maintenance in the event an application; 4 The court will decide who becomes the guardian of your children; and 5 If you have no kin, you estate will go to the government. While this is not an exhaustive list, the consequences of dying intestate can be quite considerable, adding undue stress at a difficult time. It’s never too early to make a will or plan your estate. If you need assistance, please give us a call. We would be glad to help. #will #willsandestates #lawyer #torontolawyer #trusts #torontowill #attorney #estateslaw #vaughanlawyers #lawyerlife #wills #estateplanning #torontoestateslawyer #torontoestates #girlboss #bossbabe #femalelawyer Disclaimer: the information provided herein is not legal advice and is provided for informational and educational purposes only. See more

In Ontario, the purchase of a newly built or substantially renovated home is subject to Harmonized Sales Tax (HST). Qualified purchasers, however, may be eligible to claim a rebate on both the provincial and federal portion of the HST owed. This rebate is known as the / (Rebate). For Ontario purchasers, the rebate is equal to 75% of the provincial portion (8%) of the GST/HST owed, to a maximum of $24,000.00. Whereas the rebat...e provides an additional kickback of 36% of the federal portion (5%) of the GST/HST owed, to a maximum of $6,300. Unfortunately, the full amount of the federal rebate is only available for properties with a pre-tax price of less than or equal to $350,000.00. For properties with a price ranging from $350,000.00 to $450,000.00, the rebate is gradually clawed back; and is unavailable for properties with a price in excess thereof. While the Rebate may provide significant relief to many new home buyers, it is important to be mindful that . When purchasing a new home, in order to qualify for the Rebate, : 1 The home/condo must be located in Ontario; 2 There must be a genuine intention to use the home as a ; and 3 The home must be (including parents, grandparents, children, grandchildren, spouses and siblings). If a buyer is initially granted a rebate, but subsequently challenged by the CRA, the purchaser could be liable not only for the amount of the disallowed rebate, but also for potential interest and penalties thereof. #lawyersofinstagram #realestatelaw #torontolawyer #lawyer #newhomebuyer #bossbabe #vaughanlawyer #girlboss #torontorealestate #femalelawyer #hstrebate See more

Whether buying, selling or refinancing your property, our firm can help. We are dedicated to providing our clients with high quality and professional legal services that are both personalized and cost-effective. We specialize in all areas of Real Estate Law, including: Buying or Selling of Residential Property... Buying or Selling of Commercial Property Mortgage Refinancing Transfer of Title Assignment Independent Legal Advice Independent Legal Representation Reviewing and Revising Residential Leases Reviewing and Revising Commercial Leases We also offer flexible business hours, which allows us to accommodate our clients' busy schedules. Call us today to BOOK A FREE CONSULTATION (647) 823-7330 Michelle Iezzi, Barrister & Solicitor 3901 Highway 7, Suite 601 Woodbridge, ON L4L 8L5 [email protected] To learn more visit www.michelleiezzilaw.com

There seems to be a common misconception that the government takes your estate if you die without a will but this is not true. In Ontario, when a person dies intestate (without a will), the Succession Law Reform Act (SLRA) governs how the estate will be distributed. This distribution varies depending on the (1) value of the estate, (2) the marital status of the deceased, and (3) the family alive at the time of death. An exception to the rules under the SLRA arises, howev...Continue reading

If you have purchased a newly built home or condo with the intention of using it as an investment property, you may be eligible for the New Residential Rental Property Rebate (Rebate). Unlike the New Housing Rebate, however, the NRRP Rebate cannot be assigned to the builder. Consequently, the buyer must pay the HST upfront, and later submit an application to the CRA to receive a refund. The NRRP Rebate must be applied for within the two-year period following the day the tax... becomes payable. In order to qualify for the NRRP Rebate as a residential purchaser/landlord, you must satisfy the following criteria: You are not a co-operative housing corporation; You are not a builder of the complex for GST/HST purposes; Your purchase of the residential complex, or interest in it, was taxable; You paid all of the tax payable on the purchase; You are not entitled to claim an input tax credit (ITC) for the GST/HST you paid on your purchase; and When the tax became payable on the purchase, the residential complex was a QUALIFYING RESIDENTIAL UNIT (as discussed in my last post) or the complex contained one or more qualifying residential units. Keep in mind, the first use of the unit must be used as a primary place of residence. If you acquire an interest in a house or condominium before anyone has lived in it, or before the complex is registered as a condominium with the primary intention to sell the unit, you will not be eligible to claim the NRRP Rebate. When applying for the rebate, you will be required to provide supporting documentation along with your application, including a copy of your agreement of purchase and sale, your statement of adjustments received on closing, and your rental or lease agreement. As with the New Home Rebate, the NRRPR for the federal portion of the GST/HST is reduced where the purchase price exceeds $350,000, and is completely eliminated where the purchase price is equal to or exceeds $450,000. The provincial component of the NRRP Rebate in Ontario, however, is available up to a maximum of $24,000 per unit regardless of the purchase price. NOTE: if the qualifying residential unit is sold within one year after it is first occupied as a place of residence to a purchaser who is not buying the unit for his or her use as a primary place of residence or for a relation of the purchaser you will be required to repay an amount equal to the rebate plus interest at the prescribed rate. Disclaimer: the above discussion is limited specifically to the applicability of the NRRP Rebate to purchasers/landlords. For more information, feel free to contact us to discuss your eligibility.

QUALIFYING RESIDENTIAL UNIT TEST If you answer NO to any of the following questions, the unit is NOT a qualifying residential unit and NO NRRP rebate is available for that unit: 1. Is the unit a residential unit?... 2. Does at least one of the following apply? a. You own or co-own the unit, or lease or sublet the unit from another person. b. You have possession of the unit under an agreement of purchase and sale. c. If the unit is in a residential complex, you lease or sublet the unit from another person. 3. Is the unit a self-contained residence (i.e. contains private kitchen facilities, a private bath, and a private living area) 4. Do you hold the unit for any one of the following purposes? a. To make an exempt lease or sublease of the unit for use by an individual as a place of residence (including an exempt lease or sublease of the unit that you make to another person if that person holds the unit to make an exempt sublease of the unit for use by an individual as a place of residence). b. To make an exempt supply of property or a service that includes giving possession or use of the unit under a lease, licence or similar arrangement entered into for the purpose of the unit’s occupancy by an individual as a place of residence c. To make an exempt sale of the unit and an exempt lease of the related land under a single written agreement. d. To occupy the unit as your primary place of residence where another unit situated in the same complex is a qualifying residential unit that you hold for one of the purposes listed above. 5. Was the first use of the unit (or is it reasonable to expect that the first use of the unit will be) one of the following? a. Your or your relation’s primary place of residence for a period of at least one year (or for a shorter period if, after the shorter period, the unit is leased to an individual who will occupy the unit as their primary place of residence). b. A lessor’s, or their relation’s, primary place of residence for a period of at least one year (or for a shorter period if, after the shorter period, the unit is sold or leased to an individual who will occupy the unit as their primary place of residence). c. An individual’s primary place of residence and the individual will occupy the unit continuously for a period of at least one year (or for a shorter period if the unit is sold to another person for use as the primary place of residence of that person or a relation to that person, or taken by the person or lessor, or a relation of the person or the lessor, for use as their primary place of residence). 6. If, after the first use, you intend to occupy the unit or to lease it as a place of residence or lodging to an individual who is a relation, shareholder, member, partner, or an individual with whom you are not dealing at arm’s length, will the unit be the primary place of residence of the individual?

Each residential unit for which you are claiming a GST/HST New Residential Rental Property Rebate must be a qualifying residential unit. Does your property qualify? . . #toronto #torontolawyer #realestate #torontorealestate #lawyersofinstagram #lawyers #bossbabe #gst #newhomerebate #realestateblog #rentalrebate #woodbridgelawyer #realestatelawyer #lawblogger #realestateinvesting @ Toronto, Ontario

In Canada, if you die without a Will you are considered to have died "intestate." In Ontario, when this occurs, your estate will be distributed in accordance with the Succession Law Reform Act. When dying intestate, there are several issues you should be aware of: 1 Your spouse is not entitled to your entire estate;... 2 If you have a common law spouse, they do not have a statutory right to inherit your assets; 3 If you have minor children, any funds in which they are entitled will be paid into court and managed by the Accountant of the Superior Court of Justice of Ontario who will decide how those funds should be invested and what amounts should be paid for your children's maintenance in the event an application; 4 The court will decide who becomes the guardian of your children; and 5 If you have no kin, you estate will go to the government. While this is not an exhaustive list, the consequences of dying intestate can be quite considerable, adding undue stress at a difficult time. It’s never too early to make a will or plan your estate. If you need assistance, please give us a call. We would be glad to help. #will #willsandestates #lawyer #torontolawyer #trusts #torontowill #attorney #estateslaw #vaughanlawyers #lawyerlife #wills #estateplanning #torontoestateslawyer #torontoestates #girlboss #bossbabe #femalelawyer Disclaimer: the information provided herein is not legal advice and is provided for informational and educational purposes only. See more

In Ontario, the purchase of a newly built or substantially renovated home is subject to Harmonized Sales Tax (HST). Qualified purchasers, however, may be eligible to claim a rebate on both the provincial and federal portion of the HST owed. This rebate is known as the / (Rebate). For Ontario purchasers, the rebate is equal to 75% of the provincial portion (8%) of the GST/HST owed, to a maximum of $24,000.00. Whereas the rebat...e provides an additional kickback of 36% of the federal portion (5%) of the GST/HST owed, to a maximum of $6,300. Unfortunately, the full amount of the federal rebate is only available for properties with a pre-tax price of less than or equal to $350,000.00. For properties with a price ranging from $350,000.00 to $450,000.00, the rebate is gradually clawed back; and is unavailable for properties with a price in excess thereof. While the Rebate may provide significant relief to many new home buyers, it is important to be mindful that . When purchasing a new home, in order to qualify for the Rebate, : 1 The home/condo must be located in Ontario; 2 There must be a genuine intention to use the home as a ; and 3 The home must be (including parents, grandparents, children, grandchildren, spouses and siblings). If a buyer is initially granted a rebate, but subsequently challenged by the CRA, the purchaser could be liable not only for the amount of the disallowed rebate, but also for potential interest and penalties thereof. #lawyersofinstagram #realestatelaw #torontolawyer #lawyer #newhomebuyer #bossbabe #vaughanlawyer #girlboss #torontorealestate #femalelawyer #hstrebate See more

When purchasing a property in Ontario, many first time buyers underestimate the amount needed to complete their transaction. In addition to the purchase price itself, there are several other expenses that need to be factored into the budget in order to facilitate a smooth and successful closing. These costs are commonly referred to as Closing Costs. Generally speaking, Closing Costs average anywhere from 1.5-4% of the purchase price, although t...he actual amount may be higher or lower depending on factors such as location, down-payment, or property type. While not exhaustive, the following is a list of the most common closing costs involved in the purchase of a home: Legal Fees Disbursements Registration Fees Title Insurance Ontario Land Transfer Tax Municipal Land Transfer Tax Adjustment Costs HST Tarion Warranty Home Insurance CMHC Insurance Premium Provincial Sales Tax While not all of the above may be applicable to your transaction, the ones that are can add THOUSANDS OF DOLLARS onto your purchase. Knowing what to expect ahead of time can help you prepare financially, and avoid any unwelcomed surprises that may hinder your closing. If you need assistance, please feel free to call. We would be glad to help. Michelle Iezzi 647-823-7330 [email protected] #lawyer #realestate #torontolawyer #toronto #ontario #realestatelaw #law #firsttimehomebuyer #purchase #sale #torontorealestate #closingcosts #ltt #lawfirm #lawyerlife #closing #girlboss #lawyersofinstagram See more