How to calculate a capital gain on a second property? Including improvements in your adjusted cost base could save you taxes when you sell. The improvements you make over the years to a cottage or investment property can save you on taxes when you sell.      Coming changes to the capital gains inclusion rate have jolted not just the wealthy, but also people with long-held cottages or second property owned as an investment. Starting June25, they will have to pa tax on... [read more]

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Is change needed in mortgage qualifications? Current tests require that a new borrower be able to afford a payment that is two percentage points above the actual contracted interest rate.   The federal governments regulations about residential mortgages have become unbalanced, and the rules are causing more harm than good.   One significant concern is about the mortgage stress test that are required by the Office of the Superintendent of Financial Institutions... [read more]

In March, our banking regulator, OSFI, announced that as of Q1 2025, it will cap the number of uninsured mortgages that each lender can issue where the loan amount is greater than 4.5 times the associated income. There was a lot of talk about what this means, and a lot of misunderstanding about how this may impact borrowers ability to qualify for a mortgage.  One of the biggest misconceptions I saw in social media and main stream media is that borrowers will not be able to get a... [read more]

In Ontario, a petition's shaking things up, calling for a rule that lets landlords boot tenants after 60 days of no rent. It's a bid to shake off the shackles of tight tenant laws that leave landlords hanging when the cash stops flowing. Currently if landlords follow all the correct steps, it can take a minimum of 8 months to over a year to evict tenant for non payment, causing financial distress, forcing landlords to sell and or leave their rental units vacant. On the flip side,... [read more]