Anita Patel

Anita Patel has spent 13 years developing one of the GTA's most specialized real estate tax practices, advising individual investors, property developers, and real estate agents on the complex and ever-changing Canadian tax landscape for property transactions. Her practice covers the full spectrum of real estate tax: from advising first-time buyers on the First Home Savings Account and the Home Buyers' Plan, through planning for investors on the optimal structure for a rental property portfolio, to advising builders and assignors on the GST/HST implications of new residential construction and assignment sales. Anita is one of Ontario's leading authorities on the Principal Residence Exemption, including the designation rules, the one-plus rule for the year of acquisition, the attribution rules for spousal transfers, and the impact of short-term rental income on PRE eligibility. She has advised hundreds of clients navigating CRA's increased scrutiny of real estate gains, including the flipping rules introduced in 2023 that deem gains on homes sold within 12 months of purchase to be business income. Anita also advises on the Underused Housing Tax, the federal foreign buyer rules, Ontario's Non-Resident Speculation Tax, and Toronto's Municipal Land Transfer Tax. She is a frequent speaker at realtor association professional development events and at CPA Ontario's real estate specialty group. Anita holds a Bachelor of Business Administration from Ryerson University (now Toronto Metropolitan University) and obtained her CPA designation through the legacy CGA stream.