Higher taxes offset benefit of efforts to cool housing market
Profits on sale of residential property held for less than 12 months would be taxed as business income
The accounts will have a $40,000 lifetime limit on contributions and an annual contribution limit of $8,000
Rebates remain for new permanent residents
Monetary and tax policy could present risks to the housing market, however
Both household assets and debts are well above pre-pandemic levels, RBC reports
Canada among the biggest gainers in the G20
Buyers from expensive markets are drawn by the city’s lower prices and laid-back lifestyle
The greatest increases were in smaller urban markets
The average selling price rose nearly 18% compared to the prior year