In the past we have written a blog providing a basic insight into the condo fees to explain why condo fees are so expensive. Before we dive into more details let’s recap some aspects of the condo fees: The fees for condo apartments are typically much higher on a per square foot basis than condo town homes as long as the town homes are not attached to the condominium building. Units with parking and locker will have higher fees than identical units in the same condo corporation... [read more]

RRSP HBP withdrawal limit increased from $35,000 to $60,000. As of April 16th, 2024, the qualified first time home buyers can withdraw up to $60,000 from their RRSP as part of the RRSP First Time Home Buyer Plan. The 2024 federal budget approved the increase from $35,000 to $60,000. Please click on the links above to learn more about the RRSP HBP and the increased limit, and let us know if you have any questions. [read more]

The short-term rental market became very popular over the last few years, and a hot topic. Since this is a complex tax issue, we will only suggest anyone who is thinking about selling, buying or changing the use of residential property to short term rentals to contact a qualified professional. In the meantime, below are links to comments written by qualified professionals on this subject. Pallett Valo LLP – Tax court of Canada holes that the sale of an Airbnb rental property is... [read more]