Foreign Buyer Speculation Tax Increase
The Government of Ontario announced amendments to the Non-Resident Speculation Tax (NRST). The NRST applies to the transfer of land that contains at least one and no more than six single family residences. The NRST applies to: Individuals who are not Canadian citizens or permanent residents of Canada Foreign corporations or taxable trustees. The NRST […]
Getting the Best Return on Investment
The results are in from the Royal LePage survey and it provides useful insights into the expected return on investment for various home renovation projects. Interested in learning more? Visit this link: Kitchen renovation has greatest potential to boost a property’s sale price
Legalization of Cannabis and Its Possible Impact on Real Estate
As we approach the legalization of home cannabis cultivation and recreational use, there are many questions around the impact that it may have on the real estate market. Concerns revolve around the influence it could potentially have on property values. Most mortgage companies were unwilling to insure homes that were formerly used as cannabis grow operations. […]
New Minimum Down Payment Rules Effective February 15, 2016
This past December, Finance Minister Bill Morneau announced changes to the rules for government-backed mortgage insurance. Effective February 15th, the minimum down payment for new insured mortgages will increase from 5% to 10% for the portion of the house price above $500,000. The minimum down payment will remain at 5% for homes with a purchase […]
Putting Your Profits to Work…
The government has passed the contribution limit for (TFSA) Tax Free Savings Accounts into law! Starting in 2015 and during subsequent years, you can invest up to $10,000 annually. If you’re thinking about ways to invest your profits from a home sale, then this increase could become a part of your strategy. The Canadian government proposed raising the annual contribution […]