On April 20, 2017, The Ontario government introduced the Fair Housing Plan that includes 16 housing affordability measures for homebuyers and renters after two consecutive years of double-digit gains in the housing market that made the average house prices in the Toronto region reach $916,567 in March 2017, up 33.2 per cent from a year earlier.
Prime Minister Justin Trudeau intends to finalize the details of the “pan-Canada plan to fight climate change” during his upcoming meeting with provincial premiers and aboriginal leaders on December 8 and 9.
Benjamin Tal, the Deputy Chief Economist of CIBC World Markets Inc., says in a note to clients that Ontario will have “little choice” but to follow the example of British Columbia and impose a new tax on foreign real estate buyers who push the house prices upward.
Canada’s luxury residential real estate market has seen a notable increase in foreign buyer activity over the last ten years, according to a survey of real estate advisors released on May 12, 2016 in the Royal LePage Carriage Trade Luxury Properties Report.
Viraf Baliwalla, President of Automall Network, a prominent national vehicle brokerage firm, believes that the intention of Revenue Canada to start charging tax on rebates may fail as automakers can find legitimate ways to avoid paying the tax.
Nicolet resident and tax protester Christian Lachapelle was sentenced on November 27 to four years in prison by a Court of Quebec judge in Sherbrooke after pleading guilty last October 22nd to tax fraud charges.
Jamie Golombek, Managing Director, Tax & Estate Planning, CIBC Wealth Advisory Services, advises taxpayers to start as early as possible reviewing their tax savings strategies while taking into consideration the expected changes in the tax policy of the new government.
The first installment of the federal Government‘s boosted Universal Child Care Benefit (UCCB) was transferred this week to parents in all provinces. The newly increased child care benefit pays almost $2000 every year for each child under 6 and $720 for each child aged 6 through 17. With a retroactive payment from January 1, 2015, the Harper Government transferred almost ...