The owners of a Toronto house received the surprise of a lifetime when they found their property had been fraudulently listed and bought by two folks impersonating them whereas away on a business journey. He expects housing market discussions in the first half of the yr will continue to revolve round rates of interest, which have gone up 5 instances since March — from .5 per cent to 4.25 per cent in December. Lawsuits in opposition to real estate professionals increased 9% between 2021 and 2022 as house prices declined. Section 54 of the Income Tax Act is the most popular one to provide aid to residents who are selling their old home. However, it needs to be noted that, section 54 gives relief to a taxpayer who sells his residential home and from the sale proceeds he acquires one other residential home.
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