Higher Rates for Longer? Mortgage Debt & The Great Renewal
It has been termed “the great renewal”. A significant number of Canadian mortgages are coming up for renewal. By one account, around 2.2 million mortgages or 45 percent of all outstanding mortgages, are set to face higher interest rates this year and next.1 Even though the Bank of Canada cut interest rates in 2024 as inflation continues […]
Increasing Capital Gains Inclusion Rate: Planning for the Cottage or Cabin
Welcome to the summer – and the return of cottage and cabin season! While many of us are eager for some rest and relaxation, cottage and cabin owners may face new concerns due to increases to the capital gains inclusion rate. Looking ahead to when property is eventually transferred or sold, owners are likely to […]
Video: Introducing the First Home Savings Account (FHSA)
Summary: 2023 Fall Economic Statement
On November 21, 2023, Canada’s Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, delivered the 2023 Fall Economic Statement (FES 2023), a mid-fiscal year update that was narrower in focus than previous economic statements. FES 2023 highlighted key metrics of the Canadian economy and attempted to address two key challenges: Canada’s housing […]
Tax-Free First Home Savings Account
The First Home Savings Account (“FHSA”) was introduced in the 2022 Federal Budget to address the increasing difficulty Canadians are experiencing in buying a first home due to rising real estate values. The FHSA is intended to help Canadians save and fulfill their dreams of home ownership.