UPDATE: the filing deadline for 2023 VHT is February 29, 2024. The declaration portal is up and running. By now every homeowner of a residential property in Toronto should have received a letter notification from the City of Toronto about filling out the questionnaire regarding the status of their property for the purpose of the Vacant Home Tax reporting. If you have not received the notice, you will still need to file the declaration or face fines. The filing is mandatory for every... [read more]

First Home Savings Account (FHSA) was first announced in 2022 and is finally available as of April 1, 2023. In this article we will summarize the main aspects of this program and go into details further down, if you have a question that hasn’t been answered just drop us a line. As a general comment, the federal government has been recently introducing other programs such as The First-Time Home Buyer Incentive which flopped miserably and gained almost no traction, on the other hand... [read more]

In recent years we have heard of many instances of builders demanding extra money from the purchases of pre-construction residential properties, in many cases the options were to pay thousands of dollars or to terminate the contract. This may not be that easy going forward, in the case of Dhaliwal v Midland homes the judge recently ruled that the builder must honour the original purchase price and is not entitled to any additional funds. In summary Dhaliwal’s purchased a... [read more]

February 2024 update. After going into receivership, the property retained Sam Mizrahi’s company as the project manager, this is no longer the case, Mizrahi’s will no longer oversee the construction of this condo. Original blog. The One, the landmark condominium at 1 Bloor Street West, is now in receivership. The development started in 2015 and 8 years later (initial timeline for completion was December 2022) out of 91 planned storeys (initial plans were for 85 floors,... [read more]

Hello first time home buyers. The process of buying the first home is a very exciting experience, but it can be tasking and overwhelming. In order to encourage home ownership and lessen the financial burden various levels of governments offer credits and incentives for first time home buyer, and they can add up to fairly significant amounts. I would like to explain to you the credits, their benefits, what they are and how to apply for them. There are many requirements and rules that need... [read more]