Toronto City Council has passed a motion to hike the land transfer tax on home sales above $3 million as the city looks for additional revenue. The move means those buying a home worth $3-4 million will pay a 4.4 per cent Municipal Land Transfer Tax (MLTT). That amount will increase on a scale, with anyone buying a home worth more than $20 million paying an 8.6 per cent tax to the city. Chow said she...

An ounce of prevention is worth a pound of cure. From prepping birdbaths to cleaning gutters, there are a lot of things for homeowners to do once temperatures start to dip. Unfortunately, just because you won’t be using your outdoor faucets during the winter months doesn’t mean you don’t have to worry about them. As much as we dislike adding another thing to your winter preparation list, a...

The Bank of Canada lowered interest rates to 2.25 per cent on Wednesday, but cautioned that monetary policy can't fix the structural economic damage caused by the U.S. trade war. The central bank said it made the 25-basis-point cut as weakness ripples through the Canadian economy and with inflation expected to stay close to the bank's two per cent target. "For many months, we have been stressing that...

Rate Cut: The Bank of Canada reduced its target for the overnight rate by 25 basis points to 2.5%. This marks the first rate cut since July 2024, lowering the Bank Rate to 2.75% and the deposit rate to 2.45%. Economic Outlook: Global economic growth shows signs of slowing after a period of resilience to US tariffs, with cautious US consumers and weakening investment in China. In Canada, the...

No Rate Cut: The Bank of Canada maintained its target for the overnight rate at 2.75%. This decision reflects ongoing high uncertainty in global trade despite some Canadian economic resilience. Economic Outlook: The global economy has shown reasonable resilience amid trade volatility, with modest growth in the US and Euro area, and China's exports rebalancing. In Canada, after a strong Q1, GDP...