Blog Entries tagged 'Government'

Duelling reports on housing

admin@tamerfahmi.com — Wed, 01 Sep 2010 05:00:00 +0100

A U.S.-style housing crash is unlikely in Canada, says a study by the C.D. Howe Institute.

A decline in underwriting standards played an essential role in the American housing boom and subsequent bust. That has not been the case in Canada, says the study released Tuesday.

It comes on the heels of another study by the Canadian Centre for Policy Alternatives, which said the Canadian housing market is a bubble ready to burst. It also shows the debate that economists are having over [...]

2009 Home Renovation Tax Credit... What you need to know!

admin@tamerfahmi.com — Sat, 28 Nov 2009 05:00:00 +0100

This credit is based on eligible expenditures for work preformed or goods acquired after January 27, 2009 an before February 1, 2010.

An individual's principal residence where it is owned by the individual and ordinarily inhabited by the individual will be considered as an eligible dwelling.

The credit will only be available for the 2009 tax year and applies to eligible expenditures of more than $1,000 but not more than $10,000 resulting in a maximum credit of $1,350. ($9,0 [...]

OREA Call for Action

admin@tamerfahmi.com — Fri, 20 Mar 2009 05:00:00 +0100

We need your help.

The Ontario Real Estate Association is urging the government of Ontario to avoid harmonizing the PST with the federal GST.

As you know, Premier Dalton McGuinty and Finance Minister Dwight Duncan have been openly musing about the possibility of harmonizing the goods and services tax with the provincial sales tax. If that happens, it will result in thousands of dollars in additional costs for people buying resale homes and tens of thousands of dolla [...]

Bank rate cut again in March

Thu, 03 Apr 2008 05:00:00 +0100

The Bank of Canada cut its benchmark overnight lending rate by one-half of one percentage point to 3 1/2 per cent on March 4th, and signaled further cuts in the near future. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, now stands at 3.75 per cent.

The Bank warns: "there are clear signs that the U.S. economy is likely to experience a deeper and more prolonged slowdown than had been projected," and, "deterioration in ec [...]

Land Transfer Tax Rebate extended

Sat, 22 Dec 2007 05:00:00 +0100

Government of Ontario just announced and extension on the First Time Home Buyers Program Land Transfer Tax rebate of up to $2,000 on Resale homes as well as New Homes, click here for more details; http://www.rev.gov.on.ca/english/notices/ltt/pdf/0207.pdf