2023 Incoming Policy & Tax Changes
There have been so many announcements and shifts in laws surrounding tax and property this year, that we thought it would be helpful to mute the chatter and distill it down to what you really need to know.Continue Reading »
Reminder About The Empty HOME TAX Declaration!
Knock Knock! Anybody home?! Don’t forget that all City of Vancouver Home Owners must submit their EMPTY HOME TAX DECLARATION by February 4, 2020. Each year, every owner of residential property in Vancouver is required to submit a property status declaration to determine if their property is subject to the tax. Vancouver property owners must […]Continue Reading »
Bank of Canada Holds Interest Rate
The Bank of Canada announced today that it is keeping its key rate unchanged, noting that the global economy appears to be stabilizing with growth expected to edge higher in the coming years, although uncertainty relating to ongoing trade conflicts continues to be a risk. A resilient Canadian economy, with investment spending stronger than expected, has allowed […]Continue Reading »
Are You Eligible for the First Time Home Buyers Incentive?
Who is eligible for the First Time Home Buyers Incentive (FTHBI)? For the purposes of this program, first-time home buyers are not only people who have never owned a home before, but also homeowners who have gone through a divorce or breakdown of a common-law partnership, or those who have not lived in a home […]Continue Reading »
How Does the New Shared Equity Mortgage Plan Effect You?
As of September 2nd, first time home buyers can benefit from a new shared-equity plan with the Canada Mortgage and Housing Corporation. How does the new shared equity mortgage plan effect you? First-Time Buyers: Government will advance an interest-free loan of up to five per cent on an existing home and up to 10 per […]Continue Reading »
Tax Ranges from 0.5% on Secondary Homes Left Vacant by B.C. Residents, to 2% on Foreign-Owned Properties
BC’s finance minister has introduced legislation to move ahead with a controversial speculation tax on vacant or underutilized properties. The bill ends months of speculation about how the province planned to use the new levy to help deal with runaway housing prices in some B.C. communities, outlining a range of tax rates from 0.5 to […]Continue Reading »