At the start of 2023, several new government policies impacting buyers and sellers came into effect. Here is a breakdown of three of the most noteworthy. Foreign Buyer Ban Non-Canadians are prohibited from purchasing residential properties, including detached and semi-detached…
The federal government is now offering a tax credit to those who wish to add a secondary suite to their homes for the purposes of allowing an immediate or extended family member to live with them. The multi-generational home renovation tax credit took…
Homeowners in Toronto have until Feb. 28 to submit a declaration of their property’s 2022 occupancy status. If the owner deems the property vacant or fails to complete the declaration, a tax of 1% of the home’s current assessed market…
The federal government tabled its latest budget April 7, and after Prime Minister Trudeau's election campaign promises it’s no surprise that one of the central pieces is to tackle rising home prices that hinder people’s ability to enter the market.…
A home speculation tax is one step closer to becoming a reality in Toronto. City council has agreed to ask the provincial government to introduce the tax in an effort to rein in soaring property prices driven by land speculators…
A new report financially backed by the Canada Mortgage and Housing Corp. suggests a progressive surtax on homes valued at more than $1 million could help rein in skyrocketing property prices. The proposal would establish an annual surtax starting at…
Toronto city council has approved a plan to implement a new vacant home tax starting next year. A bylaw supporting the tax will come into effect Jan. 1, becoming the start of the first tax reference year — a period…
The federal government delivered its long-awaited budget last month — the first in more than two years — which included several measures related to the real estate market, homebuyers and sellers. Here are three key items that have been promised.…
Two Toronto councillors want to see an increase in the municipal land transfer tax rebate for first-time homebuyers. Mark Grimes (Ward 3 Etobicoke-Lakeshore) and Brad Bradford (Ward 19 Beaches-East York) tabled the motion in January. The pair have asked city staff to…
Clare Tattersall
Sales Representative
Direct: 647.625.3282
Office: 416.762.8255
Email: clare@realtorontowest.com
Royal LePage Real Estate Services Ltd., Brokerage
2320 Bloor St. W., Toronto, ON M6S 1P2
Keep in the Know
Sign up for monthly community and market updates.
I respect your privacy.