Taxes
Policy
Bonnie Crombie's Housing Plan Targets DCs and Land Transfer Tax
The new plan aims to make housing more affordable by axing the Land Transfer Tax for first-time homebuyers, scrapping development charges on new homes under 3,000 sq. ft, and improving the renting industry.
Dec 11, 2024
Taxes
Taxes Make Up 36% Of Ontario New Home Prices, Study Finds
According to the organization, 70% of these taxes come from development charges and fees as governments now rake in four times more revenue from the sale of a new home than builders.
Taxes
After “Axe The Tax” Announcement, Poilievre Calls On Premiers To Follow Suit
In a letter to premiers, Poilievre asked to “match my common sense sales tax cut with one of your own by axing the provincial sales tax (where applicable) on new homes under $1 million.”
Policy
Poilievre Pledges To “Axe” GST From New Homes Under $1M
“Getting rid of the GST on new home builds will stimulate 30,000 additional homes built every single year, which, incidentally, will actually generate more income tax revenue for the government without raising rates,” Poilievre told reporters on Monday.
Tudor-Style North Saanich Estate In BC Hits Market For $2.4M
The beautiful home sits at 1345 Readings Drive in North Saanich, located on Vancouver Island in British Columbia.
Taxes
Toronto Updates Vacant Home Tax Program After Thousands Of Charges Mistakenly Issued
Toronto's Vacant Home Tax program — meant to incentivize vacant homeowners to sell and source funding for new housing initiatives — has been revamped to avoid another taxation tragedy.
Taxes
Easing Does It: Bank Of Canada Lowers Interest Rate By Another 0.25%
Wednesday’s cut brings the policy interest rate down to 4.5%, and was by and large anticipated by economists with Canada’s ‘Big Five’ banks.
Opinion
Op-Ed: The Capital Gains Hike Hurts Private Landlords, Rental Market
The capital gains tax inclusion rate change affects not just developers, but also small, private landlords, writes Macdonald Realty President Jonathan Cooper.
Taxes
How The Capital Gains Tax Hike Could Affect Real Estate Development
The capital gains tax inclusion rate is set to be increased from 50% to 66.67% on June 25, 2024.
Taxes
Toronto Due For Vacant Home Tax Shake-Up After City Backtracks On Over 100,000 Charges
A shake-up is on the table at this week’s Toronto City Council deliberations when it comes to how the Vacant Home Tax will be rolled out in the years to come.
Taxes
“Cumbersome”: Toronto’s Vacant Home Tax Mishap Draws Criticism Over Declaration Process
As of Friday, Toronto has backtracked on approximately 61,000 vacant home tax bills, and the city says it’s too soon to say exactly what went wrong.
Taxes
Toronto Vacant Home Tax Declarations Due Tomorrow
Toronto homeowners have until tomorrow to declare the 2023 occupancy status of their property — or face a fine.
Finance
Kerrisdale Property Assessment Increases Shock Business Owners
BC Assessment has issued property assessment increases of around 25% on several retail properties along West 41st Avenue, near West Boulevard, all of which will come into effect this July.
Taxes
Toronto Passes 2024 Budget, 9.5% Tax Hike For Residential Properties
City Council voted in favour of the 9.5% increase to the residential property tax rate when they met on Wednesday to finalize the 2024 budget.
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