Blog by Rob Chuter

Globe and Mail

August 30th, 2010

Home ownership becoming less affordable as sales, demand fall: Conference Board of Canada
Canadian home prices are still on the rise even as sales fall as demand peters out, one factor
that is making homes less and less affordable, according to a study by the Conference Board of
Canada.
Home sales have fallen by 25 per cent since reaching a peak at the beginning of the year as
fewer buyers compete ...

Home Buyers’ Plan

August 22nd, 2010
Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time.
Canada Revenue Agency www.cra.gc.ca. Enter ‘Home Buyers’ Plan’ in the search box. 1.800.959.8287

Property Transfer Tax

August 22nd, 2010
Property Transfer Tax (PTT) First Time Home Buyers’ Program  -   

Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $425,000. There is a proportional exemption for homes priced up to $450,000.
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