Scott Peckford

I just met with a client who moved to Canada 3 years ago. He came here to work in the construction industry. He was promised a nice contract with a decent salary.
Unfortunately when he got here the construction industry slowed. (Remember 2008)

Walmart is entering the Banking business. I am not surprised really; other retail giants like Presidents Choice and Canadian Tire have tried with limited success.
The truth is the Walmart executives will have their work cut out for them.

Life insurance is the type of thing you buy and hope you never need. Unfortunately not all types of life insurance are created equal.

Jim Flaherty changed the mortgage rules on April 19. The changes were designed to prevent Canadians from piling on too much debt.

Most of the changes will have a minor impact on the overall housing market.

In Kelowna the change is going to impact first time buyers who have been relying heavily on rental income to qualify for our expensive homes.

Rent is going to have to increase by 400% once the new rules take effect April 19. At least that is how it looks when you do the math. Flaherty announced changes to Mortgage Rules February 16 and one of the rule changes has to do with rental income.
Rental Income is being recalculated. Under the old system we could deduct $800 of rent for every $1000 of rental income. Under the new system we can only deduct approximately $200 per $1000 dollars of rent.