Does a strata corporation have to file a tax return?

Yes. A strata corporation must file an annual corporate tax return each year. If a strata corporation holds assets that exceed $200,000 in value or if a strata corporation generates income in excess of $10,000, additional filings are necessary.
Every strata corporation should consult with an accountant to ensure that the appropriate tax returns are filed.

 

 

Oscar Miklos
Oscar Miklos is the founder and principal lawyer at Refresh Law in Burnaby and the founder of HousingGuide.ca. He regularly advises residential and commercial landlords and tenants, strata owners, strata corporations, property managers and insurance providers in all aspects of housing disputes.