The First Time Home Buyers’ Tax Credit (HBTC) was implemented in the 2009 Federal budget. As of 2022, HBTC allows for first time home buyers to save up to $1,500 in federal tax relief. That amount comes from a non-refundable tax credit based on an amount of $10,000. The credit... Read More
In addition to the First Time Home Buyers’ Tax Credit, first time home buyers are also eligible for the Home Buyers’ Plan (“HBP”). This is a program that allows you to withdraw up to $60,000 from your registered retirement savings plan (RRSP) to buy or build a qualifying home for... Read More
Cottages are similar to family farms. Their succession plans should be similar too. Cottage succession planners should take a lesson from farm experts. Cottages, like farms, make succession planning challenging. Succession planning for the family cottage has many similarities to transferring the family farm. The primary goals of most cottage... Read More
Fees Lawyers fees with respect to the sale of a typical home are usually less than half a percent of the sale price, and sometimes less than a quarter of a percent of the sale price. At Smith Neufeld Jodoin LLP, our lawyers typically adhere to general policies regarding fees... Read More
It will be a requirement of most Offers to Purchase that the seller transfers to the buyer title to the land, clear of all registered encumbrances, mortgages, liens, etc., with a few exceptions. As a result, your lawyer will conduct a search of the title upon opening their file to... Read More
If you have hired a real estate agent to help you with the sale of your home, you will be required as a term of your agreement with the agent, to pay real estate commission for their services. The real estate commission is usually payable as a percentage of the... Read More
The Manitoba Métis Federation (MMF) offers a First Time Home Purchase Program (FTHPP) for Métis citizens, which is implemented and managed by Louis Riel Capital Corporation (LRCC). The key objective of the FTHPP is to “improve access to affordable housing that is safe, sound, suitable and sustainable for Métis households... Read More
Is your dream to purchase a cottage property or has the dream faded and it is time to sell that cherished family cottage? Whether a purchase or sale, legal advice is important and our lawyers can assist you in the process whether the cottage is in Manitoba or Ontario, on... Read More
If you own land, you presumably received a document that says “Status of Title” for that land. Many titles include a line that says: “Excluding all mines and minerals” or “Subject to the reservations and provisos contained in the grant from the Crown”. This means that you have the exclusive... Read More
Beginning as a highlight in the 2022 Canadian Budget, the federal government has made a concerted effort to ensure that profits made from “flipping properties” (i.e purchasing a property with the intent or effect to resell the property for a profit) are taxed in a full and fair manner. As... Read More