NPR’s Scott Simon talks to Andy Yan at Simon Fraser College in Vancouver, Canada, about a new two-year ban prohibiting some foreigners from acquiring property in Canada. SCOTT SIMON, HOST: Purchasing a household in Canada just acquired harder for some foreigners. New regulation came into outcome that will prohibit some international traders from paying for…
New York CNN — Canada in 2023 is closing its doors to foreign buyers who want to acquire households. A new Canadian legislation took effect January 1 that effectively bans foreign potential buyers from buying household attributes as investments for two decades. The legislation was passed since of a spike in Canadian property charges due…
INTRODUCTION – TAX PENALTY AND INTEREST RELIEF FOR OVERCONTRIBUTIONS TO A TFSA As of 2009, Canadian tax residents over 18 years old have been entitled to establish a tax-free savings account (“TFSA”). Unlike a Registered Retirement Savings Plan (“RRSP”), you are not entitled to deduct your contributions to a TFSA against your income. In turn,…