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Tax Law

CANADA EMERGENCY WAGE SUBSIDY LEGISLATION PASSES THE HOUSE OF COMMONS

Posted in Bylaws / Regulations, Coronavirus, Employment, Finance, Legislation, Newsworthy, Tax Law

CANADA EMERGENCY WAGE SUBSIDY LEGISLATION PASSES THE HOUSE OF COMMONS

The House of Commons was recalled on Saturday, April 11, 2020 to pass the COVID-19 Emergency Response Act, No. 2.  This Act approves the proposed Canada Emergency Wage Subsidy (CEWS) with some changes. Eligible Employers An eligible employer includes individuals, taxable corporations, partnerships consisting of eligible employers, non-profit organizations and registered charities. Public bodies would not be eligible for the subsidy. This would generally include municipalities and local...

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Rents up 4.3% in Canada, Rentals.ca report says

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Real Estate Law, Tax Law, Tenancy Law

Rents up 4.3% in Canada, Rentals.ca report says

Average monthly rents for 3 largest cities led surge in 2019: Toronto at 9%; Montreal at 25%; Vancouver at 11% The average monthly asking rent for Canada rose 4.3 per cent year over year at the end of December, according to the January National Rent Report from Rentals.ca and Bullpen Research & Consulting. The nation’s three largest cities experienced significant rent increases in 2019 for all property types listed on Rentals.ca: Toronto at 9 per cent; Montreal at 25 per cent and...

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Big city rental blues: a look at Canada’s rental housing deficit

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy, Real Estate Law, Tax Law, Tenancy Law

Big city rental blues: a look at Canada’s rental housing deficit

A new report on Canada’s rental market argues for a new policy approach in favour of building new rental supply. Learn what this means for Canada’s biggest cities. Canada’s largest cities have a rental housing deficit. Strong demand has pushed rental vacancy rates to historically low levels and rents are now reaching uncomfortable highs. In the coming years, rental demand is only set to go up—way up in the case of Toronto and Vancouver, where high home prices have crushed some...

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RHB TV EPISODE 5 IS NOW LIVE!

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Tax Law, Technology, Tenancy Law, Utility Management

RHB TV EPISODE 5 IS NOW LIVE!

Watch our exclusive interview with Benjamin Tal where we sit down to discuss the current state and future trends of the rental housing market. Ben Myers brings us the latest rental market conditions in Vancouver and Toronto- including results from StatsCan’s “Canadian Household Survey”. Later, we’ll go on location with Jason Cosentino, as he tours G.W.L Realty Advisor’s latest, purpose-built development. We’ll also be bringing you exclusive coverage from the 2019 FRPO MAC...

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Federal ministers mandate letters released – capital gains review to proceed

Posted in Appointments, Bylaws / Regulations, Communications, Development, Employment, Finance, Health & Safety, Housing, Industry Trends, Legal, Legislation, Newsworthy, Real Estate Law, Tax Law, Tenancy Law, Utility Management

Federal ministers mandate letters released – capital gains review to proceed

On Friday, December 13, 2019, the federal government published the mandate letters given to the new (and re-appointed) cabinet ministers. This CFAA Newsletter addresses the elements of those letters which are the most important to rental housing providers. These fall into three areas, namely housing policy and programs, tax policy and programs and energy regulations and programs.  Those areas are addressed by five ministers. The mandate letter to the Minister of Finance strongly suggests that...

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‘Moderate income’ rental buildings get go-ahead from Vancouver council

Posted in Bylaws / Regulations, Communications, Development, Finance, Housing, Newsworthy, Tax Law

‘Moderate income’ rental buildings get go-ahead from Vancouver council

Two 6-storey buildings will add 178 rental units, of which at least 20% must be for households earning $30-$80K. Vancouver council has approved a pair of six-storey buildings in East Vancouver that will add 178 units of rental housing. Council voted unanimously for the new developments around Renfrew and East Broadway. Both are mixed-use buildings with commercial space at street level. They mark the first projects under the Moderate Income Rental Housing Pilot Program, which council approved...

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‘Missing middle’ key to solving housing affordability, experts say

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Newsworthy, Real Estate Law, Tax Law

‘Missing middle’ key to solving housing affordability, experts say

With real estate markets continuing to heat up across the country, there are few topics hotter in Canada today than housing affordability. Just recently, the Liberal government put affordable housing at the core of its agenda, and the City of Toronto announced a $24-billion housing action plan which aims to build some 40,000 new dwellings over the next 10 years. For Councillor Ana Bailão, housing is more than just a hot policy topic: It’s a human right. The deputy mayor of Toronto urged...

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Mayor John Tory pitches tax hike to fund transit & housing

Posted in Appraisal, Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Legislation, Newsworthy, Tax Law

Mayor John Tory pitches tax hike to fund transit & housing

Toronto taxpayers may have to dig a little deeper. Average homeowner can expect to pay $43 more per year starting in 2020. Mayor John Tory says he will go before council later this month with a plan to increase the City Building Fund in the upcoming 2020 budget — initially meant to top out at 2.5% by 2022 — but now expected to peak at 10.5% by 2025. “By approving an increase in this levy … and extending it over the next five years, we can raise needed funds that will be dedicated to improving...

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Property tax cap favours Nova Scotia’s wealthy

Posted in Appraisal, Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Newsworthy, Tax Law

Property tax cap favours Nova Scotia’s wealthy

It started with the best intentions: Keep taxes on coastal properties, owned by the same families for generations, affordable. The problem was soaring assessments. In the early 2000s, buyers were scooping up seaside vacation properties in Nova Scotia, sending market values – and property tax bills – through the roof. With people on the brink of losing family homesteads and waterfront farms, a minority government ushered in a cap on surging assessments in 2005, backdating the legislative change...

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What’s next for Trudeau? A new cabinet, old wounds and fresh risks

Posted in Bylaws / Regulations, CMHC, Communications, Development, Employment, Finance, Health & Safety, Housing, Newsworthy, Tax Law, Tenancy Law

What’s next for Trudeau? A new cabinet, old wounds and fresh risks

Justin Trudeau is still prime minister, but it’s going to be a rougher ride the second time around. Trudeau eked out a victory in Canada’s election Monday, winning the most seats despite losing the popular vote. He fell short of a majority but should be able to pass legislation with the support of other parties, likely the leftist New Democrats. Parliament’s return will force a change in strategy, and will likely reopen old wounds. Here’s how it could shake out. Pick a Cabinet Trudeau, as the...

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