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.  

Is the gain tax exempt? Solve this case study: Phil and Sylvia have owned their home in the city for 20 years and their cottage at the lake for 10 years in that 20-year period...

The start of the school year is only a short month away, and now is a great time to think about the tax benefits of post-secondary studies in order to be organized come year-end.

Michael Gregory brings his expertise in global economics to the 2014 Distinguished Advisor Conference in his session Sweet Spots in Global Wealth: The New Normal is a New Hybrid.

This must-attend live workshop will provide you with the best tools to preserve, grow, and transition wealth tax-efficiently for your clients and to the next generation.

There are new options for building your retirement nest egg into a steady income stream to support your lifestyle. Master Your Retirement will guide you in achieving real results.

True to their word, on July 14, 2014 the Ontario Government introduced the exact same budget it did 74 days ago – a budget that forced the government to the polls.