Two weeks ago, the Government of British Columbia (BC) introduced a new 15 per cent land transfer tax on foreign buyers of residential real estate in that province. The tax was introduced with no consultation and virtually no notice. As Ontario considers measures to address the growing affordability challenge in our province, OREA urges all … Continued
Did you know that some municipalities in Ontario have programs to help residents achieve the dream of home ownership? The home ownership component of the Investment in Affordable Housing for Ontario Program provides funding for renter households with low to moderate income to transition into home ownership. This is a joint program with funding provided … Continued
Although the legislature has adjourned until September, Members of Provincial Parliament (MPPs) are kept busy during the summer months. When they are not in the legislature, MPPs spend time in their home ridings, listening to and helping their constituents. In addition to hearings and committee meetings, there are also two yet to be called by-elections … Continued
Earlier last month, OREA made a submission to the Government of Ontario’s Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives. OREA supports the Committee’s recommendation to increase financial literacy amongst youth in Ontario. As professionals who help consumers through one of their largest financial transactions in their lifetimes, REALTORS® know how important … Continued
This week, we will continue profiling ministers in Premier Wynne’s cabinet with the new Minister of Energy, the Honourable Glenn Thibeault. Minister Thibeault was elected to the Ontario Legislature in 2015 representing the riding of Sudbury. He previously served as the Parliamentary Assistant to the Minister of Environment and Climate Change (MOECC), the Honourable Glen … Continued
This week we are profiling the Minister of the Environment and Climate Change (MOECC), the Honourable Glen Murray. Glen Murray was first elected as the Member of Provincial Parliament (MPP) for Toronto Centre in 2010. Murray previously served as the Minister of a number of portfolios, including: Infrastructure; Transportation; Training, Colleges and Universities; and Research … Continued
Earlier this month, Premier Wynne announced some changes to her cabinet. Among a number of MPPs getting promoted, is Ottawa member Marie-France Lalonde who is taking over as the new Minister of Government and Consumer Services (MGCS). MGCS works to protect consumers and businesses in the marketplace. The ministry is responsible for the Real … Continued
Thanks in part to lobbying from business groups including OREA, this week, the provincial government pulled the plug on the Ontario Retirement Pension Plan (ORPP) in favor an expanded Canadian Pension Plan (CPP). The change came after a meeting between provincial finance ministers and the federal government earlier this week. For OREA members, this change … Continued
Yesterday, Premier Wynne unveiled her new 30-member cabinet at Queen’s Park. Although many ministers remain in their previous positions, the cabinet shuffle is highlighted by new ministers and ministries. Notably for real estate in Ontario, Ottawa-Orleans MPP Marie-France Lalonde was appointed Minister of Government and Consumer Services (MGCS). OREA works closely with MGCS since it … Continued
Today, the Ontario government announced their Five-Year Climate Change Action Plan. Included in the plan is a home energy rating and disclosure program (HER&D). HER&D is a mandatory home energy audit regime for single-family homes that forces a homeowner to conduct an energy audit before they list their home. The program then requires the seller … Continued