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Whenever a property is bought or sold in Ontario (or anywhere in Canada), the buyer has to pay a land transfer tax. When you are buying real estate in Ontario, you must be prepared for the extra closing expenses along with the down payment. The name ‘land transfer tax’ might mislead many but in reality; it is more like a property transfer tax. As a home buyer, you must know that the homebuyer pays the land transfer tax on the closing date of the property. No seller will ever have to pay a land transfer tax. To calculate the land transfer rate you will have to pay, you can use an online land transfer tax calculator by filling the purchase price and your location in the blanks. Who can get a Rebate on the Land Transfer Tax in Ontario? Home buyers can save up to $8,475 with the help of the land transfer tax rebate. The eligible first-time homebuyers can receive a maximum refund amount of up to $4,000 on their Provincial Land Transfer Tax and $4,475 on their Munici...

As a small business owner, you’re probably already worried about your business expenses. That is why you might think of saving by reducing your auto insurance coverage, or finding better personal auto insurance to save on your own expenses. But you must keep in mind that personal auto insurance policies can’t be used for business vehicles. It can result in massive fines or even the denial of a claim after you’re in an accident! With commercial or business automobile insurance policies, you will be able to protect all your company vehicles; even if there is just a single one. You must compare insurance rates before you choose one for you. Here are some of the best tips when choosing cheap auto insurance for your small business. 1.     Consider the Coverage you need When thinking about the coverage limits, it’s easy to get confused. You must remember that you need enough coverage to protect your vehicle and business but you must also make sure that yo...

When buying a home, one of the most important pieces of the puzzle is the mortgage rate. A higher mortgage rate means higher monthly payments, which means it takes longer to build equity or savings. But just how much of a difference can a small change make? You may be surprised to know that even .25% can save thousands of dollars over the life of a loan.  The question that arises now is how one can get the best mortgage rates. Here we are with some of the simple yet effective ways that will help you in getting the lowest possible mortgage rates without much hassle. 1.     Choose The Best Rates After Making A Comparison A mortgage broker can shop multiple online mortgage lenders with one credit check, so you get to know about the different mortgage rates, pre-payment options and the lenders’ fees, if applicable. Keep in mind that your interest rate will vary from lender to lender, even if everything else is the same. Big banks tend to have higher...