Great news for anyone looking to buy their first home in Toronto! The federal government has announced that first-time homebuyers won’t have to pay the Goods and Services Tax (GST) on homes priced at or under $1 million. This is a huge win for buyers struggling with affordability and could make a real difference in …
In a move aimed at reducing borrowing costs for consumers, the Federal Reserve announced on Wednesday a 0.50 percentage point cut to its benchmark interest rate. This is the first rate reduction in four years, offering some relief to consumers facing rising costs on mortgages, credit cards, and other loans. The federal funds rate now …
Rules for rent increase In most cases, the rent for a residential unit can be increased if at least 12 months have passed since the: The landlord must give a tenant written notice of a rent increase in the proper form at least 90 days before it takes effect. The proper forms for this notice are available from the Landlord …
If you are choosing to renovate their home, a building permit will be required. This ensures that the home is up to code with any safety regulations, such as health and structural requirements. It is also required to ensure that they are within any municipal regulations, including zoning and heritage property determinations.When applying for a …
Carbon monoxide gas, also known as the silent killer, is a colourless, odourless, tasteless and extremely toxic gas. It can poison the body gradually in low doses or quickly when it is highly concentrated. It reduces the body’s ability to transport oxygen in blood. Symptoms of carbon monoxide inhalation are flu-like and include: headaches, dizziness, …
Rules for rent increase In most cases, the rent for a residential unit can be increased if at least 12 months have passed since the: The landlord must give a tenant written notice of a rent increase in the proper form at least 90 days before it takes effect. The proper forms for this notice are available from the Landlord …
Federal GST Removal on Purpose-Built Rental Units The federal government recently announced an enhancement to the Goods and Services Tax (GST) Rental Rebate on new purpose-built rental housing to encourage construction of much-needed rental housing stock across the country. If passed, this action will contribute to greater affordability in the rental market, as the removal …
The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. Inflation in many countries is easing in the face of lower energy prices, normalizing global supply chains, and tighter …
1 The following definitions apply in these Regulations.Actmeans the Prohibition on the Purchase of Residential Property by Non-Canadians Act. (Loi)census agglomerationmeans a census agglomeration within the meaning of the Statistics Canada document entitled Standard Geographical Classification (SGC) 2021. (agglomération de recensement)census metropolitan areameans a census metropolitan area within the meaning of the Statistics Canada document entitled Standard Geographical Classification …
The Ontario rent increase guideline for 2023 has been set at 2.5 per cent. The 2023 guideline is applicable to most rent increases between January 1 and December 31, 2023. The rent increase guideline is the maximum amount a landlord can increase rent during the year for most tenants without the approval of the Landlord and Tenant Board. It …