{"id":27188,"date":"2017-10-13T10:21:03","date_gmt":"2017-10-13T14:21:03","guid":{"rendered":"https:\/\/www2.westmount.org\/?p=27188"},"modified":"2017-10-13T10:21:03","modified_gmt":"2017-10-13T14:21:03","slug":"significant-changes-duties-transfers-immovables","status":"publish","type":"post","link":"https:\/\/www2.westmount.org\/en\/significant-changes-duties-transfers-immovables\/","title":{"rendered":"Significant Changes to Duties on Transfers of Immovables"},"content":{"rendered":"
On March 17, 2016, The Minister of Finance announced changes to the Act respecting duties on transfers of immovables that apply to all transfers in the province of Qu\u00e9bec as of March 18, 2016. This is to ensure integrity and fairness in the regime governing the transfer of immovables.<\/h4>\n
Amendments to transfer duties exemptions now include:<\/strong><\/p>\n
\n
the introduction of an obligation to report transfers of immovables not included in the land register to the municipality where the immovable is located, within 90 days following its transfer<\/li>\n
the revocation of some exemptions applicable to transfers of immovables between two closely related legal entities<\/li>\n
an obligation to maintain exemption conditions for a period of 24 months for some transactions that are exempt from transfer duties<\/li>\n
clarification as to the method of calculation of share ownership for the purposes of certain exemption conditions<\/li>\n<\/ul>\n