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Municipal Land Transfer Tax Increase NOT Implemented

Municipal Land Transfer Tax Increase NOT Implemented

Municipal Land Transfer Tax Increase NOT Implemented TRREB is applauding Toronto City Council for listening to the concerns we expressed, and deciding to not implement an increase to the Municipal Land Transfer Tax (MLTT) on homes priced over $2 million. City Council directed staff to conduct a comprehensive study of all revenue tools and options […]

Luxury Tax on the sale of properties over $2M

Luxury Tax on the sale of properties over $2M

TORONTO — A Toronto budget briefing note reveals that the city could yield an additional $18.7 million in revenue this year—if the city council is willing to implement a luxury home tax. Properties valued at more than $2 million are currently subject to a municipal land transfer rate of two-and-a-half percent, in addition to provincial […]

Moving to Toronto?  Here are the main neighborhood

Moving to Toronto? Here are the main neighborhood

The Annex The popularity of this neighbourhood is partly driven by the proximity to the University of Toronto’s St. George Campus. However, this neighbourhood attracts many people into the Toronto housing market thanks to its wide assortment of independent book shops, cafes, and music venues that will likely see their doors swing open again in […]

This doesn’t look like 2017:’ Bank of Canada Governor isn’t worried about a housing bubble

This doesn’t look like 2017:’ Bank of Canada Governor isn’t worried about a housing bubble

Canada’s top central banker isn’t worried about the country’s hot housing market, saying low-interest rates and demand for space rather than speculation are behind the price gains. Accommodative monetary policy, a preference for more living area and the ability to work from home during the pandemic are the main reasons demand for single-family homes across […]

COVID-19: Government Financial Support During Lockdowns

COVID-19: Government Financial Support During Lockdowns

COVID-19: Government Financial Support During Lockdowns Please note: the federal government is constantly updating its website as new information is announced. Remember to check Canada’s official coronavirus webpage and CREA’s COVID-19 online hub to stay up to date. As some provinces re-enter strict lockdowns to combat the spread of COVID-19, here are the financial assistance […]