As a result of recent announcements by the federal, provincial and municipal governments, change is coming to the real estate industry and real estate agents and their clients must be prepared to adapt.
In response to the Parti Québécois promising a first-time buyer tax credit, the Quebec Federation of Real Estate Boards (QFREB) is calling on the three other parties to propose concrete measures for homeownership.
While every province charges LTT or some form of property transfer fee, depending on the tax structure, buyers may pay anywhere from a few hundred dollars to tens of thousands in addition to their home purchase.
The Ontario Ministry of Municipal Affairs and Housing plans to give every municipality province wide the power to charge a Municipal Land Transfer Tax (MLTT), says the Ontario Real Estate Association (OREA).
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.