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Capital Gains Changes – Impact on Commercial Real Estate Owners

Capital Gains Changes – Impact on Commercial Real Estate Owners

The Federal Government has announced that as capital gains realized on or after June 25, 2024 will potentially be subject to higher taxes.

Capital gains are based on the difference between the price paid for a property and the price it is sold for, and the tax is payable when the gain is realized, which is when the property is sold. Currently, only 50% of the capital gain is taxable, but on June 25, that will change. Any capital gains above $250,000 in any year will be taxed at 66.7%. This can mean significantly more taxes are owed.  This threshold also only applies to individuals so if a property is held by a professional corporation, a holding company or any corporation, the 66.7% rate will apply to the entire capital gain.

“This is the biggest capital gains tax change in 25 years and all property owners, myself included, need to consider their options for any properties going forward. This may be the right time to sell," said Shindico’s President and CEO Sandy Shindleman.

Commercial property owners, especially those who have owned a property for a long time, should make a plan to deal with these changes. For many owners, this change will mean paying 34% more taxes on the capital gain when the property is sold.

In this example, this Manitoba resident has a salary of $500,000 and sold a real estate property realizing a $2.5M gain on the sale. This is how the tax changes may affect the taxes owed on the capital gain.

Capital Gains before and after June 25, 2024

If you own a property and have been considering selling, you should reach out to Dino Alevizos* at 204-474-2000 immediately to discuss your options. You can also email him at This email address is being protected from spambots. You need JavaScript enabled to view it. to set up a call or meeting.

This article is not intended to provide nor should it be relied upon for accounting, legal or tax advice or recommendations. Independent advice should be sought.

Dino Alevizos*
Vice President, Commercial and Business Development
*Services provided by Dino Alevizos Personal Real Estate Corporation

Shindico Welcomes Trexity to Winnipeg

Shindico Welcomes Trexity to Winnipeg

Shindico is excited to welcome Trexity to Winnipeg for their launch on December 1st

Trexity is a last-mile provider of delivery services to businesses. They help independent businesses provide same day delivery services to their customers and provide detailed tracking information, including real-time location of the driver and package. The business gets to control its information and relationship with their customer. This service means that independent businesses in Winnipeg can better compete with online retailers like Amazon.

We are strategic partners with Trexity and have aligned with them to launch this service in Winnipeg. Trexity shares our philosophy that their success is based on the success of their merchants. We are sure they, and their merchants will be very successful in Winnipeg. They already operate in Ottawa and Toronto and intend to continue expanding in Canada as well as the U.S.

If you own a business that would like to get information about Trexity, please visit https://trexity.com/merchants/ for more information.

If you would like to have your favorite local business provide same-day delivery, let them know about Trexity and the great service it offers.

Tenant Spotlight: Metal Depot

Tenant Spotlight: Metal Depot

If you head over to our property at Plessis Business Park (475 De Baets Street), you’ll find Metal Depot, one of Winnipeg’s leading companies supplying metal roofing, wall panels, as well as running a full-service custom fabrication shop.

For the past 14 years, this female owned and operated business has been challenging the industry by providing quality services and products that are both “beautiful, and functional.”

“We may be a small metal shop, but we take pride all of the work we do,” said Nadine Speirs, President and Owner of Metal Depot.

Speirs says that what sets her company apart from others is her team’s commitment to beautiful aesthetics. Because of this, her company receives referrals from some of their largest competitors in the industry.

“We’re truly disrupting the industry because nobody does this the way we do it.”

Metal Depot moved into Plessis Business Park in August 2020. Speirs notes that it was important that her space not only had room for her team to work, but also room for her team to grow. She said that it was important for her space to have a fully functioning kitchen so that they would be able to host events that would encourage people to learn more about their work.

“We are the only female owned and operated metal retailer in the city, and in the next 10 years, I want to enable more women to take up space in this industry.”

Just this past year, Metal Depot hosted a few interns from Red River College and are eager to take in more in the future.

If you’re a DIY home renovator or contractor, consider visiting Metal Depot for your supplies and design needs.

For more information, please visit: https://metaldepotltd.com/

Tenant Spotlight: Evoluir Hair Salon

Tenant Spotlight: Evoluir Hair Salon

Many business owners took a hit during the recent COVID-19 pandemic, especially those in the personal service industries. Hair stylists, nail technicians, tanning salons, and many others have been shut down multiple times – putting a halt on their income streams and stopping thousands of customers from receiving their favourite services.

Now that restrictions have been lifted in Winnipeg, these services have been fully booked up. Customers see these services as an essential part of their identity and these services fuel their overall confidence.

Evoluir Hair Salon is located at Boardwalk Shopping Centre at 1413A Henderson Highway. They specialize in multiple beauty services from hair colour, cut and styling, nail art, and more.

Marina Melo-Cabral, owner of Evoluir Hair Salon, is excited to be back in the salon with her usual clientele and employees.

The pandemic has closed their shop three times and they’re currently running on a limited capacity. Only half the salon employees are working at a time, and they take extra precautions to sanitize their workstations.

“It sucks but we’re getting through it,” said Melo-Cabral

The shop owner said that the main challenge of the current pandemic is staying connected with her employees to the level that they were before the pandemic. Nowadays, they’ve been staying connected through various group chats and social media.

“We’re a big family here and it’s been hard being apart from everyone.”

Since they’ve been open, their books have been filled with customers wanting to look their best for the summer.

As of August 7, they were able to welcome their employees and customers in with no limit on capacity.

If you’re on the hunt for a new hair salon, give Evoluir Hair Salon a try. For more information, visit their Facebook Page here: https://www.facebook.com/evoluir.hair/photos

The Many Benefits of Having a Suburban Office Location

The Many Benefits of Having a Suburban Office Location

Since the first wave of COVID-19, businesses have had to explore new ways of managing their teams. This includes investing in proper office finishes that enforce social distancing, creating new procedures that enable employees to work efficiently.

Many companies are taking an interest in leasing an office in a more suburban neighbourhood as opposed to urban cores, and here are some of the benefits:

Free Parking Available

Suburban offices may be closer to employee homes and offer spaces for parking, which allows them to take their morning commute into their own hands, as opposed to relying on the public transit schedule, or riding with others. If your company is conscious about their carbon footprint, you can implement blended work schedules between the office and lower the carbon footprint of your employees with shorter commutes or with them riding their bicycles to work.

Limited Touch Points

Larger office towers often have shared spaces such as the elevator, bathroom, etc. Having an office in a suburban neighbourhood allows you to own these spaces. Not only will you save time not having to wait for the elevator, but you will have the option to limit access to these parts of the office to only your team and stakeholders. Suburban office spaces also often have their own independent HVAC, providing more control to your team and direct access to fresh air.

Outdoor Spaces

One of the benefits of having a suburban office space is you are likely to be near parks and gardens. Employees have the pleasure of enjoying the outdoors. In some instances, you may also be able to create your own office outdoor space with benches, picnic tables, and more.

Social Distancing

Since operating costs in suburban offices are generally lower, you have the liberty to invest that money in other office improvements. This includes dividers, break room essentials, and even overall space expansion, which can make social distancing much easier for you and your team.

These are just a few of the many reasons why you may want to consider moving your team into a suburban office space. If you believe your team would benefit from this environment or if you’re looking to explore new locations outside of the downtown area, take a look at a sampling of our properties and see why our tenants love working there.

Properties:

1355 Taylor Avenue

This suburban office space offers limited touch points and has ample parking to accommodate a large team. Not only does it have plenty of room for social distancing, but it’s also surrounded by numerous amenities including several restaurants, grocery stores, medical services, and retail stores.

Moray Plaza

Moray Plaza is in the heart of St. James at the northwest corner of Ness Avenue and Moray Street. This property features limited touch points with secure entrances, and restrooms are exclusive for tenant use. It is surrounded by several restaurants, schools, and residential communities.

Crestview Place

This property has a new façade. Crestview Place is located on Portage Avenue and Cavalier Drive. Not only does it have great exposure from a busy thoroughfare, but the property also has a private and secure entrance, a private boardroom, lunchroom, and restroom with no public access.

Garden City Plaza

This office is in Northwest Winnipeg and is near the Garden City Shopping Centre, Seven Oaks General Hospital and Sportsplex. There is plenty of parking available, and several restaurants and medical services just a few steps away from the office.

Grant Park Festival

Your business will thrive at Grant Park Festival, Winnipeg’s Premier Lifestyle Centre, featuring great exposure to the busy thoroughfare and ample parking.  The area also has a fantastic tenant mix including Boston Pizza, Starbucks, Sobeys, OhDoughnuts, Chosabi, and Dalat.

Grant Park Pavilions

This development is well on its way to becoming Winnipeg’s most walkable community. There are number of amenities in the area from a Walmart and Scotiabank on site, and Sobeys next door. The Pan Am Pool Complex, Taylor Tennis Club, and Reh-Fit Centre, and many other services within walking distance.

Contact Us

200 - 1355 Taylor Avenue
Winnipeg, MB Canada R3M 3Y9

(204) 474-2000

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