page contents
Sunday , 26 March 2017

Monthly Archives: June 2014

Toronto most tax-competitive city in the world: report

There’s a common perception that Canadians pay more taxes than Americans. A new report from the international accounting and taxation firm KPMG could put that notion to rest, at least for businesses. Canada came in second of ten countries studied, in terms of taxation on business, while Toronto is ranked as the most tax-competitive of the more than one hundred world cities compared. Costs of business in Canada, including the cost of labour, leasing and purchasing of real estate, transportation, property taxes, utility costs and corporate taxes, are 7.2 per cent lower than in the United States, the report says. In the corporate taxes category, Canada has the lowest, or is ... Read More »

More new listings, more buyers: Toronto housing market hums in June

More Toronto sellers listed their homes in the first half of June, but buyers still outnumbered the available homes for sale. Toronto Real Estate Board statistics for the month so far show that both sales and new listings were up “substantially” compared to the same period last year. TREB president Dianne Usher said that the early June numbers could indicate a “turnaround” in the supply of homes for sale in the GTA. “New listings were up on a year-over-year basis for most major home types in the City of Toronto and surrounding regions. However, sales growth outpaced growth in new listings, which suggests that there is still a lot of ... Read More »

Central bank still concerned about household debt, householders not so much

Canada’s banking system is strong and healthy. The banks are well capitalized. The financial markets function well. The country’s financial system has the blessing of the International Monetary Fund (IMF), which finds that it is highly resilient, strongly regulated, and able to withstand even severe stress. Further, the global economy continues to strengthen and is expected to support economic growth and continued financial stability in Canada. Even the troubled eurozone is getting over its economic problems, and tensions there are receding. What could possibly be wrong with this picture? It’s the sunny picture painted in the opening overview of the Bank of Canada’s latest Financial System Review. But the country’s ... Read More »

Choose the right condo builder, avoid problems later

A Fifth Avenue co-op building in New York City is but the latest high-profile example of what can go wrong when a building’s architects make a mistake in choosing exterior materials. The twenty-storey, 1950s-era building, which former New York mayor Ed Koch once called home, was constructed with white glazed bricks on the exterior. Unfortunately, the bricks “soaked up rainwater like a sponge,” according to the New York Times. After more than fifty years of that and the relentless freeze-thaw cycles of a New York winter, the bricks had become “compromised.” The co-op management found that it could wait no longer: the problem had to be dealt with before some ... Read More »

Canada housing market strong in May

May was a very good month for real estate sales across Canada, the Canadian Real Estate Association (CREA) confirms today. As reported earlier, Toronto sales were up a record 11.4 per cent in May. Now it’s clear that the increases were seen in markets across the country. The month-over-month increase between April and May was 5.9 per cent, the highest in nearly four years. Compared to one year ago, sales were 4.8 per cent higher, and May sales were 3.8 per cent higher than the ten-year average for that month. Also up was the number of new listings, which rose 3.8 per cent compared to April. And finally, it goes ... Read More »

Scroll To Top