Hany Adam's blog

If you’re a homeowner, you already know that keeping your property in tip-top shape requires dedication and patience for ongoing maintenance. But what if you’re putting your home on the market or even accepted an offer? Perhaps you’re thinking: Not my problem anymore.
Sorry, folks, we’ve got news for you: Just because you’re selling doesn’t mean you’re off the hook from routine maintenance tasks—and that’s especially true if you’ve already vacated the house.

With rising rental demand outpacing available inventory, rent prices rose an average of 9% across the country in April compared to last year.
The average monthly rent reached $1,821 in the month, continuing its upward trend from the low of $1,676 seen last April in the midst of the pandemic, according to data from Rentals.ca. It’s still shy of the pre-pandemic rent levels of around $1,845 in 2019 and 2020.
Rises in rent prices were most pronounced in both Toronto and Vancouver, which saw average year-over-year increases of 17.2% and 23.7%, respectively.

Canadian real estate prices won’t be correct due to population growth, right? Well, BMO Capital Markets shared a different take with institutions this morning. The bank explains there is no historical evidence to support this narrative. During the last significant home price crash, Canada saw its population grow faster. They warn interest rates to have a far more significant influence on home prices than population.

When you make a profit from the sale of a property that you own for less than 365 days, the
the profit you make is deemed to be business income, 100% of it is taxable.
If you own the property in your personal name, the profit you make can be subject to a marginal
tax rate as high as 53.5% tax.  If the property is held in the corporation name, the profit is taxed as
active business income, subject to 12.2% corporation tax.