Blog Posts with the #Educational tag
September 9, 2020 - Educational
Condominiums and TaxesCan income from interest and rentals jeopardize your condominium’s non-taxable status? This article will help you to understand which income sources may attract income tax as well as how to determine if your corporation should register for Harmonized Sales Tax.
September 2, 2020 - Educational
Crawling Back Quickly – Justice, Condo Disputes and the PandemicThe pandemic brought major disruption to the justice system but also profound change. Here’s a quick summary and a peek at what it means for condo corporations, boards, managers and owners.
August 25, 2020 - Updates for Members
The Ignored Asset – Your RoofOne of the largest capital expenses in the Reserve Fund Study for condominium corporations is the inevitable replacement of the roof system. Shingle roofs (sloped) or flat roofs (low-slope) eventually require replacement, and the timeline for this process varies greatly between properties.
August 18, 2020 - Educational
Harassment of Condominium ManagersThough some managers might be villains, and only a few are truly heroes, all of them are human, and they are entitled to fair and humane treatment.
August 12, 2020 - Updates for Members
Managing Common Elements/Amenities in Stage 3 of Re-OpeningStage 3 – What does that mean for condominiums?
August 5, 2020 - Educational
Your Financial Statements – The First Thing You Should ReadAre your financial statements credible? Read your auditor’s report to discover your auditor’s opinion.
July 30, 2020 - Updates for Members
Electricity Providers’ Requirement for a Security DepositWhen a condominium is presented with the requirement from an electricity distributor (ex. local municipal hydro corporation) to pay a security deposit, the Conditions of Service of the electricity distributor should be reviewed to ensure the request complies with the Ontario Energy Board Distribution System Code.
July 22, 2020 - Educational
TARION – Reinstatement of TimelinesTarion announced the reinstatement of timelines on July 6, 2020. Tarion processes and timelines were suspended on March 16, 2020 under Ontario’s Emergency Order. We understood that all performance audit deadlines and builder repair periods were “on-hold” until the emergency order was lifted. We have been “on-hold” for 16 weeks
July 8, 2020 - Updates for Members
Are You Paying For Your Neighbour’s Utilities?Does your Condo Corporation have a Utility Management System in place to ensure that you are paying only for your own consumption of water, electricity, heating and cooling? A fair monitoring and billing platform can be achieved through the sub-metering of utilities.
June 30, 2020 - Educational