There are some important things to note if you are a non-resident Seller selling your property in Canada or if you are a Buyer purchasing a property from a non-resident Seller. What is a non-resident? In a nutshell, non-residents have lived outside Canada throughout the tax year or have stayed in Canada for less than 183 days in the tax year. When selling real estate, the non-resident Seller as well as the Buyer, need to follow certain tax reporting rules set out by the Canada Revenue Agency (CRA). Not doing so could result in penalties for the Seller and risk for the Buyer as the Buyer could ..read more

What is passata anyway? Tomato passata is like a tomato puree made with very ripe red tomatoes that have been strained from their seeds and skins. Stored in glass jars or bottles without any preservatives, flavorings, salt or water. Sometimes it comes with some fresh basil leaves but nothing more. In short, the authentic Italian tomato passata is pure tomato juice with its pulp and nothing else. Tomato Passata in Italy is a basic preparation used in many recipes. Many people don’t know that in Italy they pour tomato passata on pizza; afterwards it’s generally seasoned with salt, extra virgin o ..read more

Each year, many people in Canada die in fires that can be prevented with working smoke alarms. It’s not enough to just install smoke alarms; it’s important to have them where they are needed and to make sure they will work properly if there is a fire in your home. New Smoke Alarms When purchasing new smoke alarms, make sure you buy the right type for the right locations in your home. Generally, a photoelectric smoke alarm will not cause problems near the kitchen area. Make sure to read the instructions! Location, maintenance, and proper usage information is included in the instructions with a ..read more

The Ontario government has increased the tax for foreign homebuyers to 20 per cent from 15 per cent and has closed a loophole that allowed foreign students and workers to get a tax rebate on real estate purchases, in an attempt to crack down on speculation in the housing market. The changes take effect on March 30, 2022 and have been expanded to cover all residential properties across the province. Under the previous rules, just the Greater Golden Horseshoe Area, which includes Toronto and other heavily populated regions in Southern Ontario, was covered. The moves bring Ontario’s policies clos ..read more

Know your sump pump. There are lots of things you can do to keep water out of your basement including: ensuring you have the correct grading around your home,  repairing any foundation cracks, ensuring downspouts are clear and are discharging away from the foundation and of course making sure your sump pump is working as it should.  Did you know the average lifespan of a sump pump is 7 years? There are two types of sump pumps: submersible pumps and pedestal pumps.  A submersible sump pump has a motor that can work underwater – therefore, the motor would be inside the sump p ..read more

After yesterday’s record snowfall, you’ll want to check the intake and exhaust pipes for your furnace to make sure they are clear of snow and ice.  A furnace needs three things to work: fuel, oxygen and a spark for ignition. If the intake pipe which supplies oxygen to your furnace is blocked or if the exhaust vent that discharges the by-products of combustion is blocked, your furnace will shut off automatically as a built-in safety mechanism.  It’s extremely important to keep these pipes free from snow and ice.   The post Keep your furnace intake and exhaust clear appeared first ..read more

The new stress test takes effect today, June 1st, 2021. Borrowers who don’t have to pay an insurance premium because they’re making down payments of at least 20% must be able to prove they can afford an interest rate of 5.25% in order for their loans to be approved. That’s regardless of the mortgage rate they’re offered by their lender. The interest threshold under the previous stress test was a lower 4.79%. What this all means is that regardless of the size of your down payment, your savings or your income, getting a mortgage will soon be more difficult — but not prohibitively so. On its own ..read more

It’s easy to forget all about your septic system. It’s underground and out-of-sight, out-of-mind right? It’s a pretty important component of any rural property so here are some tips to keep it running smoothly: Use Water Efficiently The average indoor water use in a typical single-family home is nearly 70 gallons per person, per day. Just a single leaky or running toilet can waste as much as 200 gallons of water every day. All of the water a household sends down its pipes winds up in its septic system — toilet, shower, dishwasher, washing machine. The more water a household conserves, the less ..read more

In Ontario, when you purchase land or property, you pay land transfer tax that is based on the final purchase price of the property. The good news is that as a first-time homebuyer, you may be eligible for a refund of up to $4,000 which can represent all or part of the land transfer tax payable. To be eligible to claim this refund, you must satisfy the following requirements: 1. The purchaser must be at least 18 years old. 2. The purchaser must occupy the home as their principal residence within nine months of the date of transfer. 3. The purchaser cannot have ever owned an eligible home, or a ..read more