Reap what you sow...
  
Harvesting what you’ve grown is a powerful reminder that the effort you put in today pays off tomorrow. The same goes for real estate, it’s an investment that takes planning and care, but over time, it grows into something valuable. Whether it’s a garden or a home, putting down roots in the right place can lead to lasting rewards.
Changes to First Time Home Buyer G.S.T. Rebate
From Tony Spagnolo - Spagnolo LLP https://bcrealestatelawyers.com/
On May 27, the Federal Government issued a press release that is very important for first time home buyers of new homes (and co-ops): a full GST rebate on homes under $1 million, and a partial rebate on homes between $1 million and $1.5 million.
Per the press release (the link to which is found at the bottom), the Excise Tax Act will be amended to provide a rebate to first time home buyers. In basic terms, it means that First Time Home Buyers will still pay the GST on the closing of a purchase of a qualifying home but will be eligible for a rebate of the full amount (up to $50,000).
The rebate is phased out in a linear manner from $1-1.5 million. So for example, a home that is $1.4 million would lose 80% of the rebate – in other words, it would still be eligible for a 20% ($10,000) rebate!
This policy will hopefully spur some activity in the pre-sale market and help first time buyers enter the market.
The full press release can be found here: https://www.canada.ca/en/department-finance/news/2025/05/gst-relief-for-first-time-home-buyers-on-new-homes-valued-up-to-15-million.html
Passport Control
If a trip out of the country is coming your way, make sure you follow these two passport tips.
First, be aware of when your passport expires. Travel can be restricted if there is less than six months left on your passport. Renewing your passport can take longer than it should and there are options to obtain an emergency passport but best be prepared.
For international travel, passports generally need at least one blank page, but some countries may require two to four blank pages. The specific number can vary depending on the destination country's visa requirements. It's advisable to check the specific requirements of your destination country before traveling. Here's a more detailed breakdown:
One page: This is the minimum requirement for many countries, as it's needed for visa and entry/exit stamps according to Canada.ca.
Two or more pages: Some countries require more than one blank page. For example, countries that issue full-page visas or have strict entry/exit stamp requirements may need more blank space according to Travel Stack Exchange.
Checking with your airline: Some airlines may have their own policies regarding blank pages and may not allow boarding if you don't meet their requirements. Checking with the embassy: According to Travel Stack Exchange, while some embassies don't specify exact numbers, it's always a good idea to check with the specific embassy of your destination country for their requirements.
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