Blog by Rob Chuter

Globe and Mail

August 30th, 2010
Home ownership becoming less affordable as sales, demand fall: Conference Board of CanadaCanadian home prices are still on the rise even as sales fall as demand peters out, one factorthat is making homes less and less affordable, according to a study by the Conference Board ofCanada.Home sales have fallen by 25 per cent since reaching a peak at the beginning of the year asfewer 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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