Equifax Update

Our brokerage, along with most businesses that use Equifax for credit checks recently received a letter updating us on the cyber attack they experienced over the summer in the U.S that also included some potential Canadians.  We thought it was important to keep our clients...

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Interest Rates Have Increased!

How will you be affected?

As we expected, the federal bank has increased the overnight rate by a 1/4% on Wednesday.

After years of being at the same rate, the increase was inevitable. The good news is that this means the government is feeling good about Canada’s economy and felt the need to soften inflation going forward. The bad news is, this may affect your interest rates on many different financial products.

Foreign Tax in Canada

 

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The province of Ontario is now proposing a 15 per cent foreign tax on residential properties in the Greater Golden-Horseshoe. The legislation is an effort to cool down the real estate markets in Canada’s two major cities. If it is passed, it would apply from today (April 21, 2017).