Assignment Sales: The Two Tax Bills People Forget Until It Is Too Late
Assignments of new housing are HST taxable by default since May 6, 2022, and the profit is often business income rather than a capital gain. The deposit repayment is treated differently.
Waiting for Rates to Drop Before You Buy? Run This Math First.
A quarter-point rate cut saves about $2,000 a year on an $800,000 mortgage. If prices rise while you wait, you can lose that and more. Here is the math.
Power of Sale in Ontario: What Actually Happens, and How Long You Have
The Mortgages Act sets the clock: 15 days of default before notice, 35 days after. What a power of sale is, why it is not foreclosure, and what you can still do.
The Foreign Buyer Tax Is 35% in Toronto, Not 25%
Ontario’s Non-Resident Speculation Tax is 25% province-wide. Toronto adds a 10% municipal tax from January 1, 2025. Exemptions, and the four year rebate window.
Your Rent Goes Up. Your Mortgage Does Not. That Is the Whole Trick.
Inflation raises rent but not your mortgage payment, so rental cash flow can double. The math at 2.1, 3 and 7.2 percent, and where it breaks.
Renewing Soon? Why a 1-Year Fixed Is the Priciest Way to Wait
Short fixed terms carry a rate premium. A mortgage agent explains why a variable, with a bigger payment from day one, often beats a 1-year fixed.
Your Home Sells Tax Free, Until One of These Four Things Happens
The principal residence exemption is one per family per year, must be claimed on your return, and a change in use can trigger tax on a property you have not sold.
Up to $130,000 Off a New Ontario Home, and the Window Closes March 2027
Ontario’s Enhanced New Housing Rebate removes the 8% provincial HST on new homes, tiered by price. Agreements must be signed between April 1, 2026 and March 31, 2027.
Your Credit Card Slips Two Years Before Your Mortgage Does
Bank of Canada researchers traced 9 million mortgage holders and found credit use rises about two years before a first missed mortgage payment. What the warning signs are.
The Cowichan Ruling: What It Actually Means for Ontario Property Rights
A BC court recognised Aboriginal title over land including private property. It is under appeal, a New Brunswick case reached the opposite conclusion, and it does not change title to an Ontario home.