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RECENT BLOG POSTS
What is the interest rate on overdue taxes in the 1st calendar quarter of 2012? The interest rate charged by Canada Revenue Agency on overdue taxes, Canada Pension Plan contributions and Employment Insurance premiums for the first calendar quarter of 2012 is 5%. This calendar quarter covers the p...
12/16/2011
What is closed on Christmas Day 2011 in Markham, Ontario? Sunday, December 25, 2011, is Christmas Day in Ontario.  Since Christmas Day is a statutory holiday, there will be many closures.  In addition, some services will operate on a holiday schedule.  Below is a list of some of the closures for ...
12/11/2011
Bank of Canada keeps overnight rate target (key interest rate) at one percent - December 6, 2011 On the scheduled date of December 6, 2011, the Bank of Canada announced that it would maintain its overnight target rate (key interest rate) at 1 percent. Thus, the bank rate is 1.25% and the deposit ...
12/06/2011
When will the Bank of Canada next announce its key interest rate? The Bank of Canada has scheduled January 17, 2012 as the next date that it will announce any changes to its key interest rate. The key interest rate is the target for the overnight interest rate. Chartered bank prime interest rates...
12/06/2011
Tax-Free Savings Account - One Way to Help Save for a Home Starting in 2009, the federal government has allowed individuals to contribute up to $5,000 per calendar year to a Tax-Free Savings Plan ("TFSA").  Funds in the TFSA are not subject to income tax providing that all of the rules for Tax-Fr...
12/04/2011
Where can I find the law governing the real estate profession? The real estate profession, including real estate brokerages, brokers and sales representatives are governed by the Real Estate and Business Brokers Act, 2002, which is often referred to as "REBBA, 2002". The government publishes the ...
12/04/2011
Quarterly income tax installment due December 15, 2011 Taxpayers who are individuals and who are required to pay income tax installments in accordance with the Income Tax Act are reminded that the fourth quarter 2011 income tax installment is due on December 15, 2011. Information about income tax...
12/04/2011
Important changes to Canada Pension Plan effective January 1, 2012 The federal government has announced changes to the rules for contributing to the Canada Pension Plan.  The new rules go into effect on January 1, 2012 and will affect individuals who are between 60 to 70 years of age. Canada Reve...
12/04/2011
How will the sales tax increase affect some real estate costs? On March 30, 2010, the Minister of Finance announced a sales tax increase that takes effect on January 1, 2012.  The Québec sales tax ("QST") will increase from 8.5% to 9.5% on taxable supplies. Some people have asked how this will af...
12/04/2011
Are you Thinking about Using the microFit / Feed-in Tariff Programs in Ontario? The Feed-in Tariff ("FIT") Program which includes the microFIT Program stream are currently under review by the Ontario Power Association. The microFit Program provides a way for small renewable energy projects to con...
11/27/2011
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