Juggling Dynamite

New bare trust reporting requirements for the 2023 tax year include accounts where adults have been added to the bank and investment accounts of another relative.

For Bare Trusts ending December 31, 2023, you have to file a T3 tax return, says Ali Spinner, tax partner at Crowe Soberman LLP. Here is a direct video link.

To restore Canadian home affordability to historically sustainable levels, prices need to halve, incomes double or some combination of both. All options are painful in the short to medium term for asset prices, the leveraged and Canada’s real estate-concentrated economy.

Charles St. Arnaud, Chief Economist at Alberta Central and former economist at the Bank of Canada, joins BNN Bloomberg to discuss what it means to restore affordable housing for Canadians, after recent data from Alberta Central shows housing affordability in Canada is at its lowest in 40 years. Here is a direct video link.

So-called “liar loans” helped fuel the US property bubble and bust, leading to the 2008 recession. Unfortunately, Canada has followed suit since.

Sam Cooper BREAKS NEWS on Mortgage Fraud and Canadian Banks. Here is a direct video link.

Read more at “Fake Chinese income” mortgages fuel Toronto Real Estate Bubble: HSBC Bank Leaks.