New 30-Year Amortizations for Insured Mortgages
Effective August 1, 2024, the government will allow 30-year mortgage amortizations for first-time homeowners who purchase newly built homes. For existing mortgage holders who meet specific criteria, “permanent amortization relief” will be available to extend repayment periods for as long as they need to get to the number they can afford to pay monthly. It’s an extension from the 25-year mortgage amortizations previously allowed. However, this isn’t for everyone… there is a significant risk to lifetime wealth creation and must be managed with an eye to interest rates and payment terms to reduce the non-deductible interest costs.The “Cost of Borrowing” via Non-Compliance
The one thing about an electronic age – computers do exactly what they’re told to do – right or wrong!
Trust Funds Belongs to Bankrupts’ Creditors
The Supreme Court of British Columbia recently ruled that a bankrupt’s contingent entitlement to trust funds was property that vested with the trustee in bankruptcy as part of the bankrupts' estate.
It’s the male seahorses that have the babies….
Find out about this and more at the 2015 Distinguished Advisor Conference (DAC).
June Distinguished Advisor Workshop - Transition Planning: Trusts and Estates
Substantial tax reform has recently changed the rules for post-death planning for high net worth families.
Knowledge Bureau Designate Highlight: Collette Maurice
New Liskeard, Ontario’s Collette Maurice recently completed the T1 Professional Tax Preparation – Basic course to obtain a better understanding on completing basic tax returns.
TFSA – (Perhaps Not) A Ticking Time Bomb? - Part 1
Controversy has erupted in the news this week over the potential lost government revenues 50 years from now, due to the prospect of doubling of Tax Free Savings Account (TFSA) limits in the future.
