Canada’s Mortgage Industry Welcomes Federal Budget Announcements.
Earlier this week, federal Finance Minister Jim Flaherty tabled the federal budget.
Several measures affect Canada’s housing and mortgage industry.
· Temporary home renovations tax credit of up to $1,350 for eligible home renovations and alterations.
· Increase in the home buyers RSP plan, withdrawal limit increased to $25,000 from the current $20,000.
· A new first time home buyer’s tax credit that will provide up to $750 in tax relief for closing costs.
· Broad based personal tax reductions including an increase in the personal exemption and increases to the limits for the two lowest tax brackets.
Elaine Simpson, AMP
Mortgage Planner
Mortgage Architects
Phone: 613-791-1798
Fax: 613-226-3600
www.MortgagesByDesign.ca
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