Oshawa MP Dr. Colin Carrie is joined at his Parliament Hill office by Durham Region Association of REALTORS' President Dierdre Mullen, Past-President Debbie Dawson and Executive Officer Cail Maclean
DURHAM REGION – May 12, 2010 –
Representatives of the Durham Region Association of REALTORS® recently journeyed to Ottawa to meet with Dr. Colin Carrie, Oshawa MP and Mark Holland, Ajax-Pickering MP on Parliament Hill to discuss two key issues; “Unlocking Property Reinvestment” and “The Home Buyers Plan” (HBP), during the Canadian Real Estate Association (CREA) 25th annual Political Affairs Conference (PAC Days).
The root of the issues was in allowing the capital gains tax and the recaptured capital cost allowance to be deferred when an income property is sold and the proceeds are reinvested in another income property within one year and has been presented to MP’s for a couple of years now.
The Government answered the industry’s request in 2009 by raising the HBP withdrawal limit from $20,000 to $25,000. Now the industry is asking for the HBP RRSP withdrawal limit to be indexed to ensure it never loses its buying power.
