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Vacant Spaces: Challenges in the Economic Climate

By Jeff Cowan | WeirFoulds LLP | FEBRUARY 2, 2016
In the challenges facing landlords in the current economic and market conditions, the municipal tax treatment of vacant space is not to be forgotten as some relief available for the carrying costs of vacant space. The Municipal Act, 2001 and the City of Toronto Act, 2006 both require vacancy rebates to be provided for eligible commercial and industrial premises.