Naru Menon’s Blog
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Happy Victoria Day
The holiday has been observed since 1845, as a celebration to honour Queen Victoria. The day unofficially signals the start of summer for many Canadians. It is celebrated with parades and fireworks in some cities. Sending our warmest wishes to everyone for a happy and peaceful long weekend.
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Essential Tax Tips for the 2025 Filing Season
The filing deadline is April 30, with a June 16 deadline for self-employed individuals. Payments are due by April 30.Faster CRA account access, live chat support, and simplified sign-in across multiple CRA platforms enhance tax-filing convenience.
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Interest Rate Could Drop to 2% as Tariffs Take Effect
BMO economists revised their forecast, predicting four Bank of Canada rate cuts, lowering the rate to 2% by July. BMO expects the US Federal Reserve to stay on the sidelines until September, with a possible 25 basis point cut.
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Metro Vancouver city claims title of cheapest to rent per sq. ft.
Surrey has become the cheapest city to rent in Metro Vancouver, with rates at $2.55 per sq. ft., surpassing West Vancouver at $2.56 and Langley at $2.88. It is also the only city where unfurnished three-bedroom units are under $3,000. While Vancouver saw a decrease in rents across all unit types, the overall region experienced…
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BC’s 2025 Budget: Steady but No Breakthrough Plans
BC Budget 2025 lacks bold strategies, relying on a $4 billion contingency without clear direction on tariffs. The government focuses on trade diversification, but bureaucratic complexities may slow down necessary economic actions.
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Vancouver Real Estate Prices Rise Despite Historically Weak Sales
Greater Vancouver's real estate market is experiencing a paradox where home prices are rising despite low buyer demand. In March, the benchmark price for a typical home increased by 0.5% to $1,190,900, even as sales dropped 13.4% year-over-year, marking one of the weakest months in decades. New listings surged by 29%, leading to a significant…
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How to Protect Your Home From Ice Storm
Insulate pipes and maintain stable heating to prevent freezing and bursting during ice storms. Keep gutters, grates, and drainage systems clear to avoid ice buildup and potential water damage.
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Burnaby falls in Canada’s most expensive rentals
North Vancouver leads Canadian cities in rental prices, with one-bedroom units averaging $2,667 and two-bedrooms $3,471. Burnaby ranks fourth, with one-bedroom rents at $2,336 and two-bedrooms at $3,024, both down from last year. British Columbia remains the priciest province for rentals, averaging $2,480 overall. March saw a 1.5% month-over-month rent increase across Canada, driven by…
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BC Real Estate Sees Strong Start in 2025
In January 2025, BC saw 4,221 residential sales, ↑ 6.4% yearly. Active listings ↑ 27%, reaching ~31K, signalling a normalization in market trends.
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BC 2025: New Fees and Tax Changes
The BC home flipping tax now applies at 20% for properties sold within 365 days. Residential rent increases are capped at 3% for 2025, with tax credits available for renters.