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All About Land Transfer Tax in Ontario: A Beginner’s Guide
When buying a home in Ontario, Canada, one of the important costs to be aware of is the land transfer tax. This tax, charged by both the provincial and some municipal governments, is paid by the buyer when the property purchase is finalized. It is based on the purchase price or the fair market value…
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Gold vs. Dollars: How Devaluation Shapes Canada’s Housing Market
Understanding the Change from Gold to Paper Money Before 1971, the value of currencies, including the Canadian dollar, was tied to gold. This meant that money had a stable value, which helped keep housing prices predictable. When President Nixon ended the gold standard in 1971, countries, including Canada, started using fiat currency, which is not…
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Navigating the Market Shifts: A Comparative Look at 1990 and 2024 in Canada
Canada’s financial landscape from 1990 to 2024 has undergone significant shifts, marked by changing interest rates, booming housing markets, and major fluctuations in the Canadian dollar’s value. These changes are not just numbers on a chart; they have real implications for the average Canadian’s financial and housing situations. Let’s delve into these shifts, providing clear…
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Want to Buy a House on Work Permit in Ontario
If you’re living in Ontario on a work permit and thinking about buying a home, you might have heard about the Non-Resident Speculation Tax (NRST). This tax might seem like a big extra cost, but there are situations where you might not have to pay it at all, especially if you’re married to someone who…
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Solving the Housing Crisis: Canada’s Ambitious Plan for More Affordable Homes
The promise of affordable homeownership has permanently anchored Canada’s middle-class dream. However, rising rents and home prices have put this dream out of reach for many, especially millennials and Gen Z. In response, the Canadian government has unveiled a robust strategy to address the housing affordability crisis and ensure fairness across generations. Here’s a breakdown…
Chetan Realestate 