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Tag: Government

Tax

Montreal draws ever-closer to implementing foreign buyer taxes

“We must avoid at all costs what is happening in Vancouver and Toronto, where 90% of projects are sold to investors. Montrealers must be able to own their own city,” Laurence Vincent, co-president of development company Prevel, said in an interview with Montreal-based markets observer Yury Shupilov.

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HELOC

New Rule Targets HELOC Holders Seeking a Second Mortgage

“Many of the rule changes over the past 10 years have made it really hard to buy a home beyond your primary residence,” he said. “This rule change is focused squarely on that. It has no effect on your owner-occupied residence, but will make it more difficult to purchase a second home or rental property. Many clients will be forced to choose between the security of having a credit facility should they require it, and purchasing that second property.”

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