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Wednesday, 22 April 2015

TFSA contribution ceiling has increased, what does it means to YOU

The federal budget has been a blessing for some. It is no doubt politically motivated, just like many things our politicians do. So nothing new there.
The highlights are:
      -TFSA contributions from $5500 to $10000 (good news for people conscious of their financial future and understand the concept money makes money and it is a bonus the profit is sheltered from the tax man)   
      --Balanced budget with a tiny surplus (1.4 billion)

CMHC) recently announced that it has increased the insurance premium meaning 5% down the premium goes from 3.15% of the total amount borrowed to 3.6%. effective June 1, 2015. So no brainier, hurry up if you want to save on insurance. (my advice; do not rush to save a little, might lose a lot on the long run)
As your trusted mortgage adviser, my duty to make sure you are well educated and informed about mortgages, as we believe you will make better decisions. I will keep you up to date and will ad to the Knowledge-website more information dealing with issues, news and everything. Come back and visit us online and enjoy the savings what will result in keeping us close for support and advice.