April 26, 2017
Are you a first-time homebuyer in Ontario? Then there is potentially good news for you! Those of you with an agreement of purchase and sale that closes after January 1, 2017 may be eligible for an increased Land Transfer Tax Refund of up to $4,000. This is a fairly hefty increase from the former maximum, …
April 26, 2017
The Year 2016 – What Happened? Canada The good weather we enjoyed until the middle of December has gone with the wind, and winter has now arrived with a vengeance. Both the Farmer’s Almanac and Environmental Canada are predicting heavy snow for the later part of the winter… “que sera sera”! The world has experienced …
March 13, 2017
Canada Mortgage and Housing Corporation has announced an increase in their rates for mortgage insurance, starting in mid-March. CMHC has announced that the premium, which is calculated based on the mortgage’s loan-to-value ratio will add approximately $5.00 a month for borrowers on average. For borrowers residing in cities such as Toronto, Vancouver, and Montreal the …
February 28, 2017
Effective September 6, 2016, the Ontario government implemented changes to the Residential Tenancies Act, 2006, which impacts both landlords and tenants in an important – and perhaps surprising – way. What Has Changed? The Sexual Violence and Harassment Action Plan Act, 2016 amends the legislation to benefit tenants who are victims of sexual or domestic …
February 24, 2017
City of Toronto Council has approved changes to the Toronto Land Transfer Tax that mean additional Toronto Land Transfer Tax costs for some home buyers with a closing date on or after March 1, 2017, when it will be harmonized with the provincial LTT. Status The following changes to the Toronto Land Transfer Tax were considered and approved by Toronto City Council on February 15, 2017. …
February 21, 2017
An Ontario case called Rimmer v. Building Insights Inc. probably gives some comfort to potential buyers – but it probably keeps home inspectors awake at night. It features a home inspector who was ordered to pay almost $19,000 to a buyer who hired him, all because he reported on a significant defect verbally, rather than …
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