What Is Considered A Substantial Renovation?
- Published by admin
- on March 13, 2021
On June 4, 2020, the Canadian Mortgage and Housing Corporation (CMHC) announced changes to the eligibility rules for mortgage insurance, in the agency’s…
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Do I Qualify For the Non-Resident Speculation
- Published by admin
- on September 30, 2020
In 2017, the Ontario Provincial Government implemented a Non-Resident Speculation Tax (NRST), for foreign home buyers. Currently, the tax rate is set at 15% on a purchase or acquisition of interest in residential property located in the Greater Golden Horseshoe Region. Under certain circumstances, Foreign…
The Ultimate Guide to New Housing HST Rebates
- Published by admin
- on September 2, 2020
What Is The New Housing Rebate? The New Housing HST Rebate was created by the Government of Canada and select provincial governments to help home buyers receive a rebate of up to $30,000. The amount that homeowners qualify depends on…
Do the New CMHC Regulations Make Mortgage Applications Tougher?
- Published by admin
- on August 21, 2020
On June 4, 2020, the Canadian Mortgage and Housing Corporation (CMHC) announced changes to the eligibility rules for mortgage insurance, in the agency’s…
CRA Denying Principal Residence Exemption for Pre-Construction
- Published by admin
- on August 4, 2020
The Canada Revenue Agency (CRA) audit divisions have been targeting home sales in the GTA of what they deem to be a quick resale of a newly purchased pre-construction condos. If you resell within 6 to 8 months of getting title, you could face a reassessment for taxation on…
