Mixed-Use, Mixed Signals: Why Purchase Price Allocations Matter

As the saying goes, there are only two certainties in life—death and taxes. Unless, as in the case of Miculinic Investment Corp. v. 2303515 Ontario Inc., et al., you're dealing with the amount of tax owing on a purchase of mixed-use property without a clear purchase price allocation between the residential and commercial portions. In this case, there most definitely was uncertainty.... By: Bennett Jones LLP