• Steinbach 204.326.3442 - 85 PTH 12 North, Steinbach, MB, R5G 1A7
  • Niverville 204.388.9300 - Box 1120, 62 Main Street, Niverville, MB, R0A 1E0
 

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UPDATE: What You Need to Know About the NEW BAN on Residential Purchases for NON-Residents

In June 2022, the Canadian Prohibition on the Purchase of Residential Property by Non-Canadians Act received royal assent. The Act effectively bans the purchase of residential real estate for non-Canadians and imposes a fine to anyone who breaches it as a non-Canadian purchaser or as a person who assists a non-Canadian in purchasing residential real estate. This ban is set to take effect on January… Read More »

Underused Housing Tax: The Impact on Some Residential Property Owners

Canada Revenue Agency extended the deadline for filing the 2022 Underused Housing Tax Return until April 30, 2024. This extension means that all penalties and interest will be waived so long as the return is filed by April 30, 2024. This also means that both the 2022 and 2023 Underused Housing Tax Returns need to be filed by the same deadline. The Underused Housing Tax… Read More »

Rent Guidelines for 2024

Rent Guidelines The rent increase guideline is the amount by which landlords can increase the rent of units without applying to the Residential Tenancies Board. The Manitoba Government will increase the rent guideline by 3% starting January 1, 2024. This means that rent cannot be raised more than 3% in the year of 2024 with the exception of an application to the Residential Tenancies Board.… Read More »

Selling a Home: Property Tax Adjustment

Property taxes must be paid on all residential real property as charged by the city, town or municipality in which the property is located. The tax period for all properties is the calendar year, despite the fact that the due dates for the payments of taxes will differ depending on the city, town or municipality rendering the tax bill. It is the usual practice that… Read More »

Buying a Home: Property Taxes

In a typical real estate purchase, an adjustment is usually made to the purchase price with respect to property taxes. This is due to the fact that property taxes are paid at different times of the year in the various areas of the province, but regardless of which area of the province the property is in, property taxes are always paid for the current calendar… Read More »

Buying a Home: Interest

If you are arranging for part of the purchase price to be paid by way of the proceeds of a new mortgage, the process of registering the transfer of land and the mortgage documents in Manitoba may require that the transaction be closed without the mortgage funds being available to the buyer. This may result in the proceeds not being available to the seller immediately… Read More »

 
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