What You Should Know About the Toronto Vacant Home Tax The Toronto Housing Affordability Task Force has proposed a new 1% vacant home tax that could go into effect as soon as the beginning of 2022. The Toronto City Council voted in favor (24-1) in December to implement the tax levy on vacant homes in […]
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Is it necessary to pay Toronto’s new vacant home tax? The new Vacant Home Tax in the City of Toronto has begun to be levied against homes in the city. Unless exempted, the tax is levied on dwellings that were unoccupied for more than six months in the preceding calendar year. Many unwary homeowners may
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First-time homebuyer Government incentives and tax credits First-time homebuyers can take advantage of a number of government programmes and tax credits. The Home Buyers’ Plan enables you to access up to $35,000 from your RRSPs ($70,000 for a couple) for a down payment on your first home. If you return the funds to your RRSP within
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