Personalized Mortgage Solutions, Secure Mortgages
Personalized Mortgage Solutions, Secure Mortgages
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Federal Budget Summary: Housing and Capital Gains Tax In Budget 2024, the Liberal government renewed its commitment to enhancing affordability for low- and moderate-income Canadians. New spending totaling $53 billion over five years ($57 billion including expenditures from the Fall Economic Statement) was allocated for this purpose. A significant portion of this budget, $8.5 billion, …
Eligible employees who worked from home in 2023 will need to utilize the Detailed Method to claim home office expenses. The temporary flat rate method, which was applicable for a limited period, does not extend to the 2023 tax year. As an employee, you may qualify to claim specific home office expenses. These expenses include …
Canada’s federal Finance Minister unveiled Budget 2024 on April 16th, showcasing a significant increase in gross new spending compared to pre-budget expectations. This surge in spending was partially counterbalanced by substantial taxation measures, resulting in a mixed net impact. The budget injects a short-term stimulus into the economy through substantial new spending initiatives. However, it …
Consumers perceive a slowdown in inflation, yet their short-term inflation expectations remain mostly unchanged. This perception is tied to their own experiences with price fluctuations in essentials like food and fuel. Long-term inflation expectations have risen but are still below historical averages. Concerns persist about high inflation, driven by factors like increased government spending and …
This week, central bankers made headlines, but it was Canadian economic data that caught everyone’s attention. February saw a notable improvement in inflation, while retail sales showed weakness, raising expectations for an earlier rate cut by the Bank of Canada (BoC). The BoC’s March deliberations confirmed their readiness to lower rates later in the year, …
Equifax: Safeguarding Seniors Against Fraud and Identity Theft Senior citizens are often targets of identity theft and fraud, making it crucial for them to be aware of the risks and how to safeguard themselves. According to the Federal/Provincial/Territorial Ministers Responsible for Seniors, fraud is the top crime against older Canadians. Factors contributing to this vulnerability …
In February 2024, Canadian home prices, as indicated by the seasonally adjusted Aggregate Composite MLS® Home Price Index (HPI), remained stable compared to the previous month, marking an end to five consecutive declines that began last autumn. This information comes from the latest data released by the Canadian Real Estate Association (CREA). The fact that …
CMHC Announced The First-Time Home Buyer Incentive Program Will Be Ending The deadline for new or updated applications for the First-Time Home Buyer Incentive is March 21, 2024, at midnight ET. No new approvals will be granted after March 31, 2024. Initially designed to ease monthly mortgage payments for first-time buyers, the program involved the …
The Bank of Canada maintains overnight rate at 5% amid continued quantitative tightening measures. The Bank of Canada announced its decision to keep the target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank reaffirmed its commitment to quantitative tightening. Globally, economic growth witnessed …
The deadline to submit new or updated applications for the First-Time Home Buyer Incentive is March 21, 2024, at midnight ET. No new approvals will be granted after March 31, 2024. Originally designed to ease the burden of monthly mortgage payments for first-time buyers, the program involved the government acquiring partial ownership of a property. …
