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Prohibitions against Marriage in Canada

by on May 15, 2011

Marriage Laws in Ontario Ontario Real Estate Source By Brian Madigan LL.B. You might wonder about the laws that apply to marriage in Ontario. In accordance with the Constitution Act, 1867 (formerly the British North America Act), legislative powers relating to marriage between the federal and provincial governments were divided between the federal and provincial [...]

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3 Awesome Lofts in Toronto (and Why)

by on May 3, 2011

District Lofts Located at 338 Richmond Street West, the modern District Lofts boasts plenty of living quarters and youth, with completion finished in 2002. What makes the District Lofts the perfect loft location in Toronto are the nearby amenities. Here are 9 reasons you should call the District Lofts home. Watch the Toronto Maple Leafs [...]

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Canada Tightens Credit Qualifications

by on January 17, 2011

Canada’s New Mortgage Rules Ontario Real Estate Source By Brian Madigan LL.B. Jim Flaherty, Canada’s Minister of Finance announced some changes to mortgage. In an effort to reduce the risk of exposure to rising interest rates, the following changes have been made: 1)    the maximum amortization for mortgages has been reduced to 30 years from [...]

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Residential Real Estate Holdbacks ~ Income Tax Act (Canada)

by on June 19, 2010

Section 116 Income Tax Act Canada ~ Real Estate Sales by Non Residents By Brian Madigan LL.B. (Ontario Real Estate Source) In accordance with the provisions of Division D of the Income Tax Act, non residents are taxed upon the disposition of taxable Canadian property. The definition set forth in s.115 includes real estate. Since [...]

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Canada’s Throne Speech Helpful to Real Estate Industrty

by on March 4, 2010

Canada’s Strategic Plan Positive for Real Estate Industry By Brian Madigan LL.B. (ORES) The Speech from the Throne delivered 3 March 2010 by the Governor General, is in effect Canada’s strategic plan, as prepared by the Prime Minister’s office. The approach is very much “stay the course” in terms of the economy. There are some [...]

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Be Wary about the Canadian Non-Resident Tax Rules

by on March 1, 2010

Be Careful About the Non-Resident Tax Rules By Brian Madigan LL.B. You have to be careful if you’re purchasing property from a non-resident. If you don’t, you may end up paying their income tax. As part of every real estate transaction the purchaser should obtain proper evidence in the form of an affidavit that the [...]

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Canadian Government Clamps Down on Mortgage Affordability Rules

by on February 16, 2010

Government Limits on Mortgage Financing By Brian Madigan LL.B. The Government of Canada has been concerned about the current level of interest rates. The difficulty is that borrowers might qualify now for mortgages that in a few months they may not be able to afford. Both Jim Flaherty, Minister of Finance and Mark Carney, the [...]

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“Public Interest” in Canada’s New Blogging Laws

by on January 24, 2010

“Public Interest” in Canada’s Blogging Laws By Brian Madigan LL.B. There are new laws in Canada that govern the matter of blogging on the internet. The Supreme Court of Canada determined that there must be new laws to protect amateur bloggers and others who proceeded in good faith to express their views, candidly in cyberspace. [...]

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Canada’s New Blogging Laws

by on January 21, 2010

Blogging Laws In Canada By Brian Madigan LL.B. You might have thought that there were no particular laws about blogging. And, until recently, there probably weren’t. The Supreme Court of Canada in Grant v. Torstar (2009)outlined some of the laws that apply in the case of blogging. In a recent case, the Supreme Court of [...]

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No Housing Bubble in Canada for 2009

by on December 22, 2009

No Housing Bubble in Canada By Brian Madigan LL.B. According to the federal Minister of Finance, there’s no housing bubble in Canada. However, Jim Flaherty pledged quick action from the feds if there were. Flaherty, being interviewed on 21 December 2009 indicated that recent price increases for homes in Canada were due to a confluence [...]

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Bank of Canada Holds Firm and Steadies the Economic Recovery

by on October 21, 2009

Bank of Canada Holds Firm and Steadies the Economic Recovery By Brian Madigan LL.B. It’s a balancing act, no matter how you look at it. On Tuesday October 20, 2009, the Bank of Canada held inteerst rates firm at 0.25%. Here are some comments and observations made by the Governor of the Bank of Canada, [...]

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