April 2016 Market Report
- By Ali Mamdani
- •
- 15 Apr, 2016
- •
It’s Tax Season— Numbers You Need to Know
Increases to income tax rates
brought in by the new provincial
government have come fully into
effect in after being partially
implemented in October of 2015.
Under the new brackets, the first $125,000
of an individual’s income will remain taxed
at an unchanged rate of 10% — meaning
about 93% of Alberta residents will be
unaffected, according to the government.
That being said, there will be increased
marginal tax rates on dollars earned
above that amount, with income between
$125,000 and $150,000 taxed at a
12% rate, $150,000 to $200,000 at
13%, $200,000 to $300,000 at 14%, and
income over $300,000 at 15%.
The “tax on split income” now limits
income-splitting techniques that seek
to shift certain types of income from
a higher-income individual to a lowerincome
minor. The tax on split income is
now calculated using the highest tax rate
(i.e. 11.25% for 2015 and 15% after 2015),
instead of at a rate of 10%.
Alberta’s general or manufacturing and
processing (M&P) corporate tax rate has
increased from 10% to 12%.
Many home owners are fortunate to have a property with mature trees and shrubs. Although it is always best to save a tree when you can, there may be times when you question tree removal as an option for aesthetic or safety purposes.
Here are three questions to ask yourself before making a decision:
1. Is it causing structural damage?
Tree roots can grow to the surface and change the drainage pattern across a property. In some cases, they can block water and keep it from running away from a house or yard. A tree planted too close to a house can lift a walk, rot the eaves and drop juicy berries
that are then tracked through the house.
2. Is it making the property difficult to use?
If a tree robs you of the ability to do what you would like to on your property, then removing it might be the answer. But first, try to include it in your plans. The trunk can be incorporated into a deck or patio design. The effect of making an opening in a deck
for the tree to grow through is quite pleasing.
3. Can tree removal help the space?
If healthier and more desirable species will be planted in place of the one that was removed, it can be good for
the environment. In a natural woodland setting, removing certain trees can help the ecosystem. For
example, the removal of leggy, weak pines will make space for the more desirable native hardwoods.
Here are three questions to ask yourself before making a decision:
1. Is it causing structural damage?
Tree roots can grow to the surface and change the drainage pattern across a property. In some cases, they can block water and keep it from running away from a house or yard. A tree planted too close to a house can lift a walk, rot the eaves and drop juicy berries
that are then tracked through the house.
2. Is it making the property difficult to use?
If a tree robs you of the ability to do what you would like to on your property, then removing it might be the answer. But first, try to include it in your plans. The trunk can be incorporated into a deck or patio design. The effect of making an opening in a deck
for the tree to grow through is quite pleasing.
3. Can tree removal help the space?
If healthier and more desirable species will be planted in place of the one that was removed, it can be good for
the environment. In a natural woodland setting, removing certain trees can help the ecosystem. For
example, the removal of leggy, weak pines will make space for the more desirable native hardwoods.
“Should I sell in this Buyer’s Market or wait until we’re in a Seller’s Market
again?”
Let’s be honest, nothing really matters unless you know how you’re going to pay for your next home or investment property. The reality is that anyone (and I mean anyone) can find the money to purchase a home. In fact, we have seen people who are over $70,000 in debt, unemployed, and on the verge of bankruptcy purchase not one, but multiple homes at the same time. Sound impossible?
Many people want to know what the secret is to getting the most out of their real estate and to appeal to most consumers looking for real estate today. This report will guide you through doing many of those things to help get the most dollars when selling your property.
