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.EverGreen Explanatory Notes have been updated!
Have you noticed EverGreen Explanatory Notes have been updated?
Mark Your Calendar: Personal Tax Bootcamp - RSVP by Dec. 15
Sign up before December 15 to secure your spot at the Knowledge Bureau’s Comprehensive Day Long Tax Update!
Give The Gift Of Time: It’s Precious
It seems to sneak up on us every year: the Christmas Holiday season. Regardless of how you celebrate, it is a time to reflect, count your blessings, give, and re-evaluate how you will use your precious resources of time and money in the new year.
Knowledge Bureau Designate Highlight: Michelle Smith
Grow your business with the DFA - Bookkeeping Specialist™ Designation.
Review Changes Before Finalizing T Slips
While the March 2nd 2015 deadline for filing T4 slips is still some time away, CRA released publication RC4120-Employers’ Guide – Filing the T4 Slip and Summary on November 21, 2014.
Structure Your Estate For All Instances Or Courts Will
Is your estate planning up to date so that your final wishes will indeed be carried out? If not, things may not pan out, as the courts take matters into their own hands.
