We all care for our kids, and many parents intend their children to inherit their homes, so that the wealth stays in the family. This is a natural desire, and very commendable. It seems so natural, in fact, that most people can’t even imagine the tax and inheritance traps that lay in wait for this …
Common Tax Mistakes to Avoid When You Want the Kids to Inherit the House Read More »
Writing a will is a very personal subject and often involves a lot of considerations about property and heirs. The process can be made even more difficult because of legal issues, taxes, and various hidden aspects of how the law handles property inheritance in Ontario. This leaves several factors that need to be considered when …
In an announcement made by Toronto Real Estate Board President Mark McLean last week, GTA REALTORS® reported 7,385 home sales through TREB’s MLS® System in November 2015 – a 14 per cent increase compared to November 2014 and a record number for November sales to date. Toronto’s real estate market saw 96,401 sales for the …
Toronto Real Estate Market Watch — November 2015 Read More »
The Municipal Land Transfer Tax is coming to a town near you, and most likely, your town as well. The dreaded Municipal Land Transfer Tax (MLTT) might be spreading across Ontario as an additional taxation measure backed by the Liberal Government. This tax will be on top of the existing Provincial Land Transfer Tax …
Liberal Party Policy Change–Additional Land Transfer Tax for Buyers in Ontario Read More »
After a long campaign, Harper shows his support for the Toronto Blue Jays
What does it mean to be rich? Is it a fancy car parked in your driveway? Maybe a six or seven figure salary? For many Canadians, wealth is measured monetarily—the amount in your savings and chequing accounts, RRSPs, investments, and value of your assets. It seems as though people are on a constant chase for …
Selling your Home this Summer? We can finally say “goodbye” to sub-zero temperatures, “hello” to sunshine and what is seemingly shaping up to be a beautiful summer. Not only is this a great time to participate in a variety of outdoor activities that we’ve been aching to do all winter, this season is optimal for …
6 Reasons Why the Now is Best Time to Sell A House in Toronto Read More »
On April 21, Finance Minister Joe Oliver released his first Federal Budget. Amidst falling oil prices across the globe, the state of the Canadian dollar and the upcoming federal election, Oliver provided clarity surrounding the budget coinciding with the public’s best interest, as well as those of political parties vying for seats. Oliver announced a balanced budget which he …
2015 Federal Budget: 7 Key Points Surrounding the Housing Sector Read More »
Wills must be examined by the court and ruled valid prior to the settlement of an estate. Known as “probate”, this process is required in order to issue a Certificate of Estate Trustee to the executor, giving him or her legal authorization to handle the deceased’s estate. To probate a Will, an application must be …
The novelty of the holidays has finally worn off and we can now officially welcome the arrival of 2015. The New Year brings an opportunity for new beginnings and self-reflection—it also brings the not-so-welcome credit card bill. For those of us who were frivolous with our finances over the holidays, this can act as a …
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