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Oilpatch woes impacting Canadian economy, central bank says + MORE Jan 10th
The Bank of Canada acknowledged Wednesday the struggles of the oilpatch are weighing on the broader economy, adding that investment in the sector is "projected to weaken further.".... More »
Should you claim the principal residence exemption on a property you bought your child? May 16th
Ask MoneySense
I bought a condo in 2006 in another province for my daughter to live in. It’s registered in my name. I also have a house in another province. I am planning to sell the condo my daughter lives in very soon. Can I claim capital gain exemption in the condo she lived in all these ye.... More »
Can I still claim the principal residence exemption? + MORE Nov 6th
(Getty Images / Peter Dazeley)
Q: I have purchased a new home and have moved into it. I have finished part of the basement into a legal suite. I have not rented it out yet. My question is, if I rent the suite out will I be able to claim the primary residence tax exemption when I sell my home?
—Do.... More »
Energy companies lead US stocks higher as oil prices rise + MORE Nov 21st
NEW YORK, N.Y. – U.S. stocks are rising as energy companies climb with the price of oil. Investors are hoping that OPEC countries will soon be able to finalize a deal that would cut oil production and help support prices. Meat producer Tyson Foods is tumbling after it reported weak fourth-quar.... More »
Who is Emmanuel Macron and what is his plan for France? + MORE May 4th
Emmanuel Macron, head of the political movement En Marche !, or Onwards !, and candidate for the 2017 French presidential election, gestures to supporters after the first round of 2017 French presidential election in Paris, France, April 23, 2017. REUTERS/Benoit Tessier – RTS13LN5
PARIS – Fr.... More »
Putting a number on the value of financial advice
– theglobeandmail.com
If the industry says it can generate 3 per cent in excess returns, why not compare the adviser’s results with the client’s best guess?
Protection for bidding war home buyers is coming…very, very soon
– moneysense.ca
Home buyers caught in a bidding war will soon get a lot more protection against the use of phantom bids—fake or false offers used to initiate a bidding war or to drive up the sale price of a home.
Starting July 1, real estate agents can no longer indicate if there is an offer on a property unless a signed, written offer has been formally submitted to the listing brokerage office. Prior to these legislative changes, some realtors would notify home buyers of potential bids—bids that weren’t always forthcoming. (For more on tricks realtors use to sell homes go here.)
“The changes are intended to ensure the offer process is transparent,” states a March 2015 Real Estate Council of Ontario (RECO) bulletin.
Key to these changes is the ability to now request how many bids were actually registered against a property for sale. According to the RECO bulletin the regulatory council “will aim to determine the number of written offers as quickly as possible.” This could take up to two weeks but really depends on how quickly brokerages fall in line with this new process and how many requests are received for this type of information…
