Friday, March 9, 2018 / by Ruth Ballantyne
I am just back from a Meeting with Bramalea-Gore-Malton MP Hon. Gurbax Malhi. I was lobbying to have the Home Buyers Plan Indexed to keep pace with inflation so that it never loses its value. Did you know that the average net worth of a household who rents is $11,000 compared to $375,000 for homeowners. We need to help everyone get into a house to increase their net worth. I was also lobbying to Allow the capital gains tax and the recaptured capital cost allowance to be defered when an Income propety is sold and the proceeds are reinvested in another Income property within one year. This program would assist Canadians saving for Retirement, as well as retirees dependant on regular income by making real estate a more viable investment vehicle. He was supportive and said he would speak to his caucus on this recommendation.
Earlier this month I went to Ottawa as part of the Canadian Real Estate Associations Political Action Days to lobby the other MP's within the Brampton Real Estate Board Jurisdiction. I met with Andrew Kania, Hon. Navdeep Bains, and Ruby Dhalla. Everyone was in support of the programs. Let me know what you think of these programs.