Effects of Prime Minister Trudeau’s tax hikes Middle class Canadians, small business owners and first time immigrants have expressed their disappointment after Prime Minister Trudeau’s five tax hikes in 2023. The five tax hikes subjected the working class earning a salary at a cut off value of 66,000$, to an additional tax of 255$ for…
Similar to the economical and housing crisis worldwide as an after effect of the COVID 19 pandemic, Canada’s housing market crashed leaving millions with an unfulfilled wish to own a home. With an aim to address the housing upheaval, Prime Minister Trudeau introduced the fairly new and untested housing model- the Rent to Own Program/Agreement.…
Mortgage Rates in January 2023 Mortgage rates are defined as the fees incurred while obtaining a loan to fund the purchase of a home. Because real estate prices are very high, many people cannot pay for houses with cash, they have to opt to extend the dues over very long periods. It may take over…
First Time Home Buyers in Canada Using a shared equity mortgage with the Government of Canada, First-Time Home Buyer Incentive provides 10 or 5 percent for the purchase of a home that is newly constructed for the 1st time home buyer, around 5 percent for resale or newly manufactured or mobile home, and 5 percent…
According to a report of TRREB Commercial Network Members, around 6,912,490 sq ft of the leased space by TRREB MLS system in Q2 2022 for all types of the lease transaction across commercial, industrial retail and the office market segments. This outcome has represented a 12.7 percent drop as compared to Q2 2021. Year-over-year…
Mortgage Interest rates in Canada Market Mortgage rate is a rate of interest that is charged on the mortgage. The mortgage rates are generally determined by the lender and can either be variable, changing with the benchmark interest rate or can be fixed, staying the same for the term of the mortgage. Mortgage Rates…
Tax season has arrived in Canada, so it is time to gather receipts, chalk out deadlines for filing, and brush up on new rules. What considerable changes have been introduced in 2019? Most of the notable tax changes from the year 2018, directly impacts small business owners. For instance, the tax rate for federal…
Canadian Dollar VS US Dollar – How It Affects Canadians in 2019? 2018 wasn’t a good year for the Canadian dollar as it fluctuated and ended at two steps up and one step down! One of the major reasons was the unpredictable trade talks between America and Canada, along with plummeting oil prices. But the…
Buying a house, condo or townhouse is a big decision, and you have no doubt begun to scout suitable properties. However, buying a home is a daunting task as you have to consider securing a mortgage – it is a lengthy process that you have to face right from the start. You need to have…
The Office of the Superintendent of Financial Institutions Canada (OSFI) Mortgage Stress Test was introduced in 2018, when every Canadian buyer applying for mortgage from a federally-regulated lender were required to undergo it. This was applicable for even those who put down 20% or more as down payment. What is the Canadian Mortgage Stress…
