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  • October 25, 2016
  • investors, taxes

Ontario will not follow B.C.’s tax on foreign homebuyers, Premier Wynne says

April Fong, BNN.ca Staff Ontario Premier Kathleen Wynne, The Canadian Press Ontario Premier Kathleen Wynne said on Monday that the province will not follow British Columbia’s move to introduce a tax on foreign homebuyers. “We’re not going to go down the road that British Columbia has gone down,” Wynne said at a press conference. “I’m […]

  • October 18, 2016
  • new mortgage rules, rent

New mortgage rules mean raising babies in apartments, financial planner says

Shannon Lee Simmons says millennials may have to put off dreams of home ownership for now By Muriel Draaisma, CBC News Posted: Oct 17, 2016 3:24 PM ET Last Updated: Oct 17, 2016 3:43 PM ET Shannon Lee Simmons, certified financial planner, says new mortgage rules that took effect on Monday mean millennials will be raising […]

  • October 10, 2016
  • housing market, mortgage rules

Hot Toronto real estate market means paying more, new mortgage rules could give you less buying power

In this hot Toronto real estate market where every penny counts, some buyers could find themselves with less borrowing power because of new mortgage rules set to take effect within two weeks. Ottawa tightens mortgage requirements Want a detached house in Toronto? You need $1.29M As of Oct. 17, more mortgage applications will undergo a “stress […]

  • October 7, 2016
  • mortgage rules, taxes

How principal-residence tax changes will affect every Canadian homeowner

Earlier this week, Finance Minister Bill Morneau introduced tax changes that were aimed primarily at foreign investors in Canadian real estate to ensure they abide by our existing tax rules. But the changes also catch many Canadian residents who, in the past, have often inadvertently escaped paying tax on their principal residences. The tax rules […]