Starting June 25, 2024, there will be changes to the Canadian Capital Gains Tax.

Currently, Capital Gains Tax is calculated based on 50% of the capital gains earned (capital gains inclusion rate). This means that if you profit $100,000 from the sale of an investment property, only $50,000 of this is taxable income.

Starting on June 25, 2024, some of the changes include:

* For corporations/trusts, capital gains tax inclusion rate will increase from 50% to 66.67%

* For individuals with gains over $250,000, the capital gains tax inclusion rate will increase from 50% to 66.67%

* For individuals with gains under $250,000, the capital gains tax inclusion rate will stay the same at 50%

* Principal Residences remain capital gains tax free

The Federal Budget 2024 includes other changes. The above is for reference only. Please refer to your accountant for any tax advice.

Declaration for City of Vancouver Empty Homes Tax for 2023 is due February 2, 2024. Learn more about new changes and make your declaration here.

City of Lougheed, a massive community project with 23 towers over 40 acres of land and a shopping centre, is preparing to launch the first wave of sales in just over a month. There is an estimate of over 500+ homes available for sale in Tower One, starting at just $329,900. All suites include one parking and storage locker. Call now to arrange for a preview before the launch.

Congratulations on opening yet another location!

Congratulations to purchasers of the presale home at Fremont Indigo! One of the last handful of homes available! Completion expected in early 2017.

Congratulations to Bubble Waffle Cafe on opening yet another location at the Royal Centre food court in Downtown, Vancouver. Must try their bubble waffles if you work in the Downtown area.