Rate Cut by the Bank of Canada (BoC) The BoC made a significant move this morning by cutting the overnight rate by 50 basis points (bps) to 3.75%. This follows three consecutive 25 bps rate cuts. The market had already anticipated a 90% chance of this 50 bps cut due to: Slower-than-expected GDP growth. Consecutive weak inflation reports. The larger cut aims to boost growth faster,...

Newly built home exemption: Full exemption: Effective April 1, 2024, the fair market value threshold for a full exemption for newly built homes is increased from $750,000 to $1,100,000. Partial exemption: A partial exemption is also available for properties with fair market values just above the threshold. The phase out range is $50,000 above the threshold, with the complete elimination of the...

The Act and Regulations provide exceptions for those international students who meet all the requirements: are enrolled in a program of authorized study at a designated learning institution have filed income tax returns for each of the 5 taxation years have been physically present in Canada for a minimum of 244 days in each of the 5 calendar years preceding the year in which the...