house-sale

Canada lists old NYC residence for $13M, surpassing cost of new luxury condo

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Canada lists old NYC residence for M, surpassing cost of new luxury condo

Canada is selling its former Manhattan residence, which used to house its consulate general in New York. The 12-room, five-bedroom apartment located on Park Avenue was listed Thursday at over $13 million, which is expected to exceed the purchase of its new $9-million Manhattan condo located on Billionaires’ Row. Global Affairs Canada said the new … Read more

Do Ottawa’s proposed capital gains tax changes affect inherited properties?

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Do Ottawa’s proposed capital gains tax changes affect inherited properties?

The federal government’s budget proposal to increase the inclusion rate for the capital gains tax for people whose profits go past a certain threshold has drawn mixed reactions from experts, entrepreneurs and taxpayers. One asset affected by these changes is real estate, including cottages and investment homes. The change proposed in the Trudeau government’s new … Read more