The Competition Bureau charges a $50,000 flat fee, which we believe is an unfair figure for reviewing real estate transactions that are non-complex in nature. These fees in turn encourage investment in the United States where there is no such fee, to the detriment of Canadian real estate.
REALpac believes that the Competition Bureau should:
- Continue to Increase the Pre-Merger Notification Transaction-Size Threshold; and,
- Eliminate or Reduce Non-Complex Merger Review Fees for Commercial Real Estate Transactions to $17,404.
REALpac requests that the Competition Bureau eliminate or significantly reduce its review fees for non-complex real estate transactions to better reflect the resources needed to complete the review. This would eliminate the incentive for Canadian capital to invest in U.S. real estate and send any review fee savings back into the Canadian economy. Reducing the fee to a "complex” per-day pricing scheme of $17,404 would free up significant capital which would be infused directly back into the Canadian economy.
Previous Government Submissions
For more information on this issue, or any of REALpac's government relations initiatives, please contact Carolyn Lane, VP, Membership & Communications, email@example.com, 416-642-2700 x.223.