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.Improving Economic Potential: A Smart Financial Goal
Happy New Year! What’s your “economic potential” in 2015?
Our Readers Are Awesome
Sometimes a little clarification is in order.
Don’t Miss It: Professional T1 Tax Update January 20 - 23
Secure your spot at the Knowledge Bureau’s Comprehensive Day Long Tax Update!
DAC 2015 is Heading to Puerto Vallarta, Mexico
The Distinguished Advisor Conference™ (DAC) will be held November 8-11, 2015 in Puerto Vallarta.
Happy New Year: 2015 is Brimming with Generous Tax Preferences
Happy New Year and welcome to a brand new tax year.
Tax Changes for 2015
The new tax forms were available as of January 7 and CRA has recently posted a partial list of new tax and benefit changes and online services for the 2015 tax filing season, encouraging people to file online and use their online services.
