Posted by & filed under Accounting Careers, Personal Tax.

Description: With an overheated housing market in Toronto, Canadian Finance Minister Bill Morneau is set to meet with provincial and municipal officials to develop ideas on how policy makers might tame this housing bubble. Tax policy offers a number of options for intervention. For example, the federal government could raise the capital gains tax on homes that don’t qualify as a principal residence. Further, the federal government could raise the amount buyers could ‘borrow’ from their RRSPs to fund home purchases.

Date: April 7, 2017

Source: globeandmail.com

Link: http://www.theglobeandmail.com/real-estate/toronto/what-can-governments-do-to-cool-torontos-housing-market/article34637684/

Discussion Points:

1) Are you graduating this spring? Is purchasing a home on the horizon for you?

2)  Which of the polices proposed in the Globe and Mail article do you feel would be the best for taming the housing bubble in Toronto?

3)  What will be some of the impacts on taxpayers if the federal government enacts these measures?

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