Understanding the New GST/HST Rebates for First-Time Home Buyers For many first-time home buyers, GST/HST on newly constructed homes can represent a significant additional cost during the purchase process. In 2025 and 2026, new federal and proposed provincial rebate programs were introduced to help eligible first-time home buyers reduce the ...
Continue ReadingThe Federal Budget for 2022 has made amendments to Part IX of the Excise Tax Act (“ETA”). Effective May 7, 2022, all assignment sales in respect of newly constructed or substantially renovated single unit residential complexes or residential condominium units are taxable. For clarity, with respect to residential housing transactions, ...
Continue ReadingThe purchase price of your home is only one of the costs you’ll encounter. Here are other possible costs you need to consider: Mortgage loan insurance: If you are putting less than 20 per cent of the house value down, you’re going to need mortgage loan insurance. Depending on the ...
Continue ReadingHave you made capital gain? That’s great news, because this influx of cash from selling your assets will improve your financial health. However, these benefits may be taxed. Here, I answer seven common questions. 1. What is capital gain? Capital gain represents the profit you make when you sell, entrust, ...
Continue ReadingAssignment sales have become increasingly common in Ontario real estate markets, particularly involving: pre-construction condominiums, investment properties, and rapidly changing market conditions. While assignment transactions can create opportunities for both buyers and sellers, they also involve legal, financial, tax, and operational risks that many consumers underestimate. Unlike traditional resale transactions, ...
Continue ReadingWhat makes one business better than another when you are buying a business? Some of the considerations are obvious. Others are not. As you explore the business landscape, keep in view these 12 markers for choosing a business. 1. Location Is the location of the business convenient? Is it close to your ...
Continue ReadingI recently revised my Home Buyers Guide Book. It’s a collection of how-to’s, checklists, and worksheets to help buyers understand what to expect during the real estate purchasing experience. Click here to get a free copy. Written by Rodney Harvey, Broker of Record at Konfidis, Brokerage providing advisory-focused commercial, ...
Continue ReadingIn addition to all the usual taxes residents have to bear owning real estate; all non-residents selling or buying Canadian real estate are required to undergo some additional tax burdens made to deter non-resident investors from speculating in the housing market and ensure governments collect their due taxes. Without proper ...
Continue ReadingInvestment real estate can be a powerful long-term wealth-building tool, but purchasing the wrong property — or purchasing the right property without proper due diligence — can create significant financial and operational challenges. In Oshawa and across Durham Region, investment activity has continued to attract: first-time investors, multi-residential buyers, assignment ...
Continue ReadingIn effect since January 1st, 2022, the UHT is an annual 1% federal tax on real estate owned by any non-resident, non-Canadian, and considered vacant or underused. In some situations, this also applies to Canadian owners. The Underused Housing Tax Act (UHT) requires individuals impacted by this tax to file ...
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