The CMHC’s announcement that it may level the playing field for self-employed borrowers, as well as Canadians new to the country, is being lauded by industry insiders, with some saying it’s long overdue.
Q: “I am tutor of my husband’s affairs. He and I own our home, which is in both our names. We plan to keep it. He also owns a country home in need of substantial work. I would like to gift it to one or both of our children, or sell it to them for $1. What are the tax consequences of this for my husband and for the child or children to whom the property is tranferred?”
Breaking your mortgage can be a costly exercise, sometimes saving you money because you find your way into a cheaper product, but often an expensive decision necessitated by outside circumstances.
Montreal Mayor Denis Coderre says the new provincial budget, tabled Thursday in Quebec City, is "bang on" and boasts important investments that will benefit Montrealers.
The CMHC has come under fire in recent years for a conspicuous lack of reliable data about the money coming from abroad and how it may be contributing to soaring home prices in cities like Vancouver and Toronto. Our neighbours to the south, for example, keep detailed records of who is buying what and for how much.
When it comes to house flipping, Canadians need to be warned that profits from real estate may not necessarily be taxed as a capital gain, in which case only 50 per cent is taxable, but rather they could be taxed as business income, in which case 100 per cent of the profit is subject to tax.
This brick-faced suburban family home on the South Shore may look like the neighbours’, but about 30 per cent of its energy needs come from the sun. The home has also been feeding power to the Hydro-Québec grid for the past seven years. And for the past four, it’s been feeding a family car the electricity it needs for daily commutes.
Community group Sauvons l’Anse-à-l’Orme presented a petition with 9,700 signatures to Pierrefonds-Roxboro borough Mayor Jim Beis on Feb. 1. The petition calls for the protection of 100 per cent of a green space in Pierrefonds West now zoned for residential development.
A proposed land development project in Kirkland has come to an abrupt halt after residents rallied to trigger a town referendum. Kirkland town council voted Monday night to withdraw a series of amending bylaws that would have allowed for a contentious high-density residential project to move forward.
Dec. 22 is the deadline for Montreal residents to register all fireplaces or wood-burning stoves (or anything that burns solid matter, as opposed to fuel or electric). It’s part of a plan adopted by the city of Montreal to implement stricter air-pollution regulations by 2018.
Canada’s banking and insurance regulator highlighted fraudulent mortgage practices as a key threat to the country’s financial system, prompting consultations with lenders over how to ensure that the system can withstand a severe housing market downturn.
I guess it's not much use saying that something should have been done sooner. To some extent, you have to give the new federal government credit for making an attempt to put a lid on what so many experts fear is a Canadian property bubble. The debate now is what impact the move to increase down payments on houses worth more than $500,000 will have.
An 800-unit high-density residential redevelopment on the former Merck Canada campus north of the Highway 40 in Kirkland will be heading to the next phase of the public approval process required for proposed zoning changes.
A development touted as “the largest commercial real-estate project ever built in Laval” was unveiled Monday by a partnership that includes investment firm Claridge, developer Montoni and the real-estate division of the Quebec Federation of Labour’s Solidarity Fund.
Investment in commercial real estate is expected to decline for the fourth straight year in 2016 despite the growing presence of Mainland Chinese investors in the marketplace, according to a new forecast.
Picture this: You spend 15 or 20 years slaving to pay down your mortgage. You’ve built up 80 per cent equity in your home and you have just five years left until it’s free and clear. After all that effort, after all that built-up equity, you deserve the lowest mortgage rate around, right? Perhaps, but that’s not how it works in our mortgage market.
On the courthouse steps Monday morning, a group opposing a development in Pierrefonds took their fight to a new level. The group objects a plan to develop over 5,000 homes on the forest and wetlands near the l’Anse-à-l’Orme Nature Park.