Canada Revenue Agency (“CRA”) is taking a close look at assignments of pre-construction condominium agreements of purchase and sale, particularly in Vancouver and Toronto.  With the boom in condominium development in those cities, many pre-construction units are being purchased by investors, not end-users intending to reside in the units. As several years usually pass between the time that purchasers enter into their purchase agreements, and the time when the unit is built and ready to be occupied, investors have been able to assign their purchase agreements at a profit prior to final closing with the developer. CRA sees these transactions as a potential area of tax non-compliance.    Read the article……………..