Time is Running Out for First-Time Home Buyers to Save in 2024
Owning a home, once almost considered a right of Canadian citizenship, has become a more distant dream for millions. The high cost of housing, coupled with a desperate shortage of supply, has turned the notion of home ownership into a near impossibility for many Canadians and those who have arrived in our country more recently. The Tax-Free First Home Savings Account (FHSA) can help but it’s important to open an account before December 31, 2024 to create and preserve the contribution room.It’s a Sweetheart of a Deal: Offers End February 15!
Share the love with your companion or team member and join us in the splendid aura of the arts in the charm of Montreal as you discover new ways to lead with impactful guidance at the Acuity Conference for Distinguished Advisors, November 10-12, 2024. Early-bird deadline: February 15. Save up to 25% on tuition when you register as a Delegate, Companion or Team Member! Plus, last chance to save on CE Summit Event passes before tuition prices increase.
Study with a Buddy & Make a Difference as an RWM™
Make a difference while you differentiate with new credentials and a collaborative approach to leadership in building your practice and a natural referral network, too, with the Real Wealth Management™ Designation Program. The RWM™ approaches conversations with clients on a deeper level while following a compliant framework that goes beyond KYC and KYP – all to enable greater financial piece of mind. Enrol in the RWM™ Designation Program, only $1,295 for single registrations (save $500) or study with a buddy and your tuition is only $995 each.
FHSA: New Lines & Forms on the T1 This Year
If you opened a First Home Savings Account in 2023, you’ll be addressing potentially 3 new lines on the 2023 tax return, several new auxiliary tax forms and a brand-new Schedule 15. Here is what you need to know:
February 6 Economic Plan: New Spending, But No Tax Relief
The federal government announced over $200 million in new rent and emergency shelters support as well as $5 million a year to fund consumer research, investigate and reveal harmful business practices, all as part of its economic plan. Sadly, there was no broad-based tax relief to put money into the hands of consumers. Here’s what was announced and how filing a tax return before the end of the month could provide more broad-based help instead.
Foreign Ownership Ban Extended
Finance Canada has extended the ban on foreign ownership of Canadian housing for an additional two years. This will now expire on January 1, 2027. Foreign commercial enterprises and people who are not Canadian citizens or permanent residents will not be allowed to purchase residential property in Canada. But will this help make housing more affordable in Canada?
Make a Difference as A Real Wealth Manager™
Make a difference while you differentiate with new credentials and a collaborative approach to leadership in building your practice and a natural referral network, too, with the Real Wealth Management™ Designation Program. The RWM™ approaches conversations with clients on a deeper level while following a compliant framework that goes beyond KYC and KYP – all to enable greater financial piece of mind. Enrol in the RWM™ Designation Program, only $1,295 for single registrations (save $500) or study with a buddy and your tuition is only $995 each.
