Annual HST hit for average B.C. household is $521
Filed Under Main Content · Tagged: Amount Of Money, Bottom Line, Economics Professor, Harmonized Sales Tax, Household, Households, Hst, Married Couple, People, Sales Tax, Schuetze, Single Parents, Statistics Canada, Times Colonist, University Of Victoria
Times Colonist- The average B.C. household could take a hit of $521 to its bottom line next year as a result of the harmonized sales tax, according to a model prepared for the Times Colonist by Statistics Canada.
The change could range anywhere from $78 for households with single parents and one child to $801 for a married couple with no children, the figures show.
"There are certainly individuals and households that will feel the impact of this tax," said Herbert Schuetze, economics professor at the University of Victoria. "For example, if you are unattached and 65 years or older we’re talking about $262 a year. That’s a considerable amount of money for some people…"
Annual HST hit for average B.C. household is $521
CMHC Mortgage Regulations to Restrict Real Estate Investment
Filed Under Main Content · Tagged: Borrowers, Cmhc Mortgage, Debt Service, Household Income, Invest, Kicker, Kitchener Waterloo, Mortgage Investment, Mortgage Regulations, People, Real Estate Investment, Real Estate Investment Properties, Rental Property, Waterloo Real Estate
Kitchener Waterloo Real Estate Investment Properties- Currently when you buy a rental property, CMHC will allow you to use a 80% rental offset, which means that they used to take 80% of the gross rental income that the income property generated, and subtract that from the borrowers total debt, to establish the total debt service (TDS) ratio.
What that means is that you don’t have to have the household income to cover 100% of the value of the rental property, like you do with a home you live in, because the bank will let you offset the debt using 80% of the revenue the rental produces (does that make sense?).
They’re changing this amount to 50%, which makes it much tougher for people to qualify for investment properties, but the real kicker is that…
Recovery to accelerate, Bank of Canada says
Filed Under Main Content · Tagged: Affordability, Bank Canada, Bank Of Canada, Buying Spree, Carney, Confidence, Economists, Express, Globe And Mail, Housing Market, Investment, People, Recession, Resale Market, Rock Bottom, Vigorous Growth
The Globe and Mail- …The central bank also appeared to express confidence that the country’s hot housing market will even out before a bubble forms, as some economists have warned would happen if rock-bottom borrowing costs continue to help monthly sales smash records. In October, Mr. Carney attributed much of the buying spree in the resale market to people who had put off purchases during the recession, largely echoing that view Thursday.
“Following a period of vigorous growth, housing investment is projected to slow through 2010 as pent-up demand subsides and affordability declines,” the central bank said…
Recovery to accelerate, Bank of Canada says - The Globe and Mail
Power from the people
Filed Under Main Content · Tagged: Counterpart, Developers, Energy Power, Energy Sources, Landfill Gas, People, Petroff, Photovoltaic Power, Renewable Energy, Renewable Sources, Solar Photovoltaic, Stable Prices, Term Contracts, Water Power
Financial Post- FIT and its counterpart, microFIT - the program Mr. Petroff is taking part in - offer stable prices under long-term contracts for energy generated from such renewable sources as biomass, biogas, landfill gas, on-shore and offshore wind, solar photovoltaic and water power. "We are reaching out well beyond developers to the community," Mr. Jutla says. "Under the program, anybody is allowed to take part and contribute any amount of renewable energy…”
