New for 2009!
One-Day, In-class Training Course: “Transition to IFRS for Real Estate Investment and Development Entities”:
REGISTER NOW FOR 2009!
[Click here for Registration]
TORONTO – February 17, 2009
CALGARY – March 9, 2009
VANCOUVER – April 27, 2009
MONTREAL – May 13, 2009
TORONTO – June 9, 2009
2008 SOLD OUT!
TORONTO – October 15, 2008 – SOLD OUT!
TORONTO – November 24, 2008 – SOLD OUT!
This new course is designed to help entities prepare their convergence plans, by reviewing the key GAAP differences between Canadian GAAP and IFRS, specifically as they apply to the real estate investment and development industry. In addition, key transitional issues are analyzed for the first-time adopter of IFRS, as required by “IFRS 1 First-time Adoption of International Financial Reporting Standards”. This course is sponsored in part by KPMG. For further information please contact Teresa Neto, Vice President, Financial Reporting, tneto@realpac.ca, 416-642-2700 x.226.
NEW! One-day, In-class Training Course: “Introduction to Corporate Responsibility & Sustainability: Implementation and Reporting”:
TORONTO – November 21, 2008
[Click here for Registration Information]
This one-day training course will introduce participants to the business functional area of Corporate Responsibility and Sustainability (CR&S) in the commercial real estate context, and will help prepare participants to start meeting the new expectations for sustainability reporting. It is an introductory course designed for people who have had limited exposure to issues related to Sustainability, and who are interested in practical, business-relevant solutions. Throughout the course question such as the following will be addressed: What is CR&S and what does it mean for a commercial real estate company?; Why are some leading real estate companies embracing sustainability?; What are the regulatory and market drivers?; What are the benefits of sustainability reporting for a real estate company?; What is a CR&S report and what do I need to include?; and, What does the reporting process look like and how do I get started? Contact Deborah Prestwich, Manager, Office Services, dprestwich@realpac.ca, 416-642-2700 x. 221.
NEW! 1-hour, Webinar: “Introduction to REALpac’s National Standard Green Office Lease”:
October 16, 2008
November 17, 2008
[Click here for Registration Information]
The use of the REALpac Green Office Lease encourages the use of sustainable materials in tenant improvements, and encourages sustainable practices by both the landlord and the tenant in the management, use and occupation of the building. The REALpac Green Office Lease removes disincentives to reduced energy, water and raw material consumption, encourages increased recycling, and works to ensure that tenants and landlords adopt environmentally friendly practices.
This one-hour webinar will help participants:
Gain a full appreciation of the importance and value of the REALpac Green Office Lease to your business. Gain the knowledge of how best to apply a green lease to your business’ needs as well as the needs of those with whom you enter into a lease agreement. Gain a sound grasp of how to develop a strong Environmental Management Plan which best serves your needs.
Contact Deborah Prestwich, Manager, Office Services, dprestwich@realpac.ca, 416-642-2700 x. 221.
OECD Council Approves Updates to the OECD Model Treaty and Commentary: On July 18, 2008, the OECD Council (which is made up of all the member countries’ ambassadors to the Organisation for Economic Cooperation and Development) approved the text of a new update that amends the model income tax treaty first issued in 1963, including the REIT provision suggested by the Real Estate Equity Securitization Alliance (REESA) of which REALpac is a Member. This was the final step in the approval process. Click on the following link to read “The 2008 Update to the OECD Model Tax Convention, 18 July 2008”.
Competition Bureau Submission: On July 3, 2008, REALpac sent a submission to the federal Minister of Industry, and spoke with a Senior Policy Advisor regarding the proposed changes to the structure of the Competition Bureau of Canada as they relate to merger fees for large commercial real estate transactions.
Changes to REIT: On July 14, 2008 Federal Finance released the legislation further to the December 20, 2007 proposed technical announcements to the current REIT rules. The detailed legislation can be found at this link. The REIT section of the legislation can be found in clause 19, or page 21 of the document which amends section 122. 1 of the Income Tax Act. REALpac is making a follow-up submission to the federal Department of Finance in September regarding the release of the draft legislation.
Submission to International Tax Panel, Department of Finance Canada: On July 15, 2008, REALpac wrote to the International Tax Panel established by Canada’s Department of Finance in response to the panel’s consultation document, “Enhancing Canada’s International Tax Advantage.” REALpac asked that Canada’s international tax policies fully incorporate the realities of commercial real estate operations and encouraged the panel to consider our suggestions as well as the OECD working group document on REIT taxation.
egX Group Application for Exemption, Submission to the Ontario Securities Commission: REALpac made a submission to the Ontario Securities and Exchange Commission regarding egX group’s application for an exemption from recognition of egX group and egX Canada.
REALresearch – “Water Conservation and the Canadian Real Property Industry”: REALpac release its latest Research Report titled "Water Conservation and the Canadian Real Property Industry" on August 14, 2008.
REALresearch – “CMBS Maturities Update: 2008”: Given the credit crisis in the US, and the fact that much of the Canadian CMBS market has been syndicated down into the US markets, concern has been expressed about the ability of Canadian lenders, and new US lenders coming to Canada, to take up all of the CMBS debt that will be maturing over the next several years. Click here to access the report.
2008 Canadian Real Estate Executive Compensation Survey: On August 18, 2008, REALpac was pleased to release the results of the "2008 Canadian Real Estate Executive Compensation Survey".
REALpac Capital Flows Reports – Q1 & Q2 2008, Greater Calgary and Greater Toronto Areas: On August 28, 2008, REALpac was pleased to release the "Q1 2008" and "Q2 2008" REALpac Capital Flows Reports for the Greater Calgary Area (GCA) and Greater Toronto Area (GTA).
REALpac’s Internal Corporate Responsibility & Sustainability (CR&S) Policy/Program: In May 2008, REALpac completed the development of an internal guidance document titled, “REALpac’s Internal Corporate Responsibility & Sustainability (CR&S) Policy/Program”. The document is intended to help REALpac manage the way in which it attends to its CR&S programming. The purpose of the document is to provide direction on proposed action and evaluation for REALpac’s CR&S management process.
11th Annual REALpac Leadership Retreat, October 19-21, 2008: This invitation-only event, developed exclusively for REALpac Member Representatives, will take place in Scottsdale, Arizona.
4th Annual Senior Financial Officers Dinner, November 13, 2008: REALpac is pleased to host this invitation-only event on Thursday, November 13, 2008, to provide Canada’s senior financial executives with an opportunity network and make new connections with their industry peers. (Invitation Only)
REALpac’s 2008 Annual General Meeting, December 2, 2008. (Invitation Only)
REALpac's Internal Corporate Responsibility & Sustainability (CR&S) Policy/Program - The document is intended to help REALpac manage the way in which it attends to its CR&S programming. (16Oct08)
REALpac National Corporate Responsibility & Sustainability Guidelines - The document is intended to aid in the transfer of knowledge on the subject and to serve as a tool to help steer REALpac Members and others in the Canadian commercial real estate industry toward more sustainable business practices. (16Oct08)
Introduction to Accounting for Real Estate Investment & Development Entities – One Day Training Course - This course will provide participants with a thorough review of REALpac’s recommendations for the interpretation and application of GAAP for the real estate investment and development industry in Canada.
November 19, 2008 - Toronto
[Click here] for more information and to register.
REALpac develops Canadian "green" standard office lease for the commercial property sector - The REALpac Green Office Lease incorporates the latest sustainability principles and objectives and enables landlords and tenants to establish sustainability targets for energy, water, indoor air quality, and recycling. The Green Lease also enables landlords to carry out "green" renovations to existing building stock, and anticipates and provides for both carbon offsetting by a landlord, and future carbon trading. Click on the following links for the Green Lease Document, News Release and Backgrounder, and the article in the June 3rd edition of the Globe and Mail "Environmentally friendly buildings get new lease". To read more about Leases and Green Buidlings Click here (03June08)
Corporate Responsibility & Sustainability Resource Centre
