• phone: 6047658873
  • fax: 888.253.4963
  • mobile: 6047658873
"I work for YOU, not the lender"

Blog by Linda M Linfoot

Smith Manoeuvre

January 31st, 2011


Smith Manoeuvre


The Smith Manoeuvre is a technique that converts regular debt into tax-deductible debt.  In the process, it affords the opportunity to pay off one’s mortgage significantly faster.


The Smith Manoeuvre works basically as follows:


   1. First find a re-advanceable mortgage

   2. Then sell your non-registered assets (like sto ...

New Mortgage Rules Announced

January 23rd, 2011

New Mortgage Rules Announced

Finance Minister Jim Flaherty announced some changes to mortgage rules that will come into force on March 18, 2011.

1. The maximum amortization period is now 30 years (down from 35 years) for government-backed insured mortgages, when the down payment is less than 20 percent. 

2. The maximum amount that can be borrowed when refinancing a mortgage is now 85 ...

Property Transfer Tax

January 9th, 2011

Tax Rates

The amount of tax due depends on the fair market value of the property that is transferred:

  • If the fair market value is $200,000 or less, the tax is 1% of the fair market value
  • If the fair market value is greater than $200,000, the tax is 1% of the fair market value up to $2 ...

BC HST and Real Estate

January 9th, 2011

BC's HST and Real Estate

By Clark Wilson LLP's Commercial Real Estate Group

November 19 update: Transitional rules for new housing have been released by the provincial government today. The Province is proposing to increase the previously announced threshold for the B.C. HST new housing rebate from $400,000 to $525,000. For pre-sales, any hom ...

Credit Card Bills Got you Down?

January 5th, 2011

It's Payback Time!

PhotoThe holiday festivities are finally over, and for many of us the financial hangover is just starting to creep in. The black and white reality of January credit card statements can be a shock, especially after realizing what the annual interest rate is for this type of debt. Before you panic, please call to discuss payment options that may help ease the pain of ...