Beware slackers!

Taxpayers who are late with their tax returns and who owe taxes will be charged interest and late filing penalties.  Interest is charged on the outstanding balance starting the day after the due date of the return and is compounded daily. 

Interest are subject to change quarterly so make sure you check the CRA website regularly for updated rates (http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/ntrst/menu-eng.html).

The late filing penalty is 5% of the outstanding balance, plus 1% of the outstanding balance every month that your return is late, to a maximum of 12 months. 

Remember, prepare your tax returns well ahead of the due date to avoid paying interests and penalties!

Procastinate later — interests and penalties for late tax returns

We are weeks away from the due date of our Personal Income Tax Returns.  If you have not started on your returns yet, this might change your mind.  Did you know that the CRA charges interests and penalties if you owe taxes and  file your taxes after the due date? Yes they do! The CRA charges interests on the outstanding amount starting the day after the April 30th due date and is compounded daily.

Not only that, the CRA charges a  late filing penalty of 5% of the outstanding balance plus 1% of the oustanding balance every month that your return is late, to a maximum of 12 months. 

Remember:  Prepare your tax returns way ahead of  time. The earlier you file your tax return the better! 

If you have any tax questions, let the tax guru know!

Tax Season has arrived!

Tax Season has officially begun.  It is always daunting this time of year when you have to collect and organize your t-slips, receipts and what nots.  Here are a few tips that will help you get through the tax season in one sane piece.

1.  April 30th is the deadline to file your personal income tax return so prepare all the required paperwork well ahead of this due date.  Remember that the CRA charges interests and penalties for late returns.

2.  Look at the several ways you can file your tax returns and choose wisely.  Consider the cost, time and the risk factors when choosing.  You can either go through an accountant, online, manual filing, etc.  Check out this link to learn more — www.kustomdesign.wordpress.com.

3.  Be aware of important dates related to your tax returns — when you should expect your T4, T3’s, etc.

4.  Make sure you are familiar with the tax credits and deductions that apply to you.  You can go directly to the CRA website or consult a tax specialist to help you out.

Interview with Joel the Flooring KING !

Jared Chamberlain video blogs about the difference between hardwood and laminate flooring in your home. He is interviewing Joel Dixon of Carpets For Less in Calgary AB, who is a member of The Chamberlain Group’s extended network. If you are looking for flooring give Joel a call at 403.252.3535 and tell Him Jared sent you. If you want to voice your opinion or don’t care for Jared’s comments please email your comments to Jared@tcgroup.ca.

111 Douglas Park Blvd. SE – SOLD

Download Feature Sheet Here

Welcome to this beautiful home in Douglasdale Estate.  There are a number of quality features and upgrades of this home that you are sure to fall in love with.  To start off with, this is a gorgeous corner lot with potential RV parking, new fencing, a partially covered-two tiered deck, a new 10×10 shed, abundance of rose bushes all located steps from Fish Creek Park. There is an 8 person hot tub that is only 3 years old.  The roof was just redone in March 2009 with a 20 year transferable warranty to the new owners.  There is Central Air Conditioning in this 4 bedroom and 3.5 bathroom home.  On the mail level, you have a front room that is currently used as an office, but can become a living room or dining room very easily.  The kitchen is an open concept that flows nicely into the nook and family room.  All 7 appliances (including 2 double door fridges) will stay with the home.  The basement is fully developed with a bedroom and ensuite that boasts a large steam shower.  Call today to see this home.

1-888-366-3130
sales@tcgroup.ca

Housing Rebounds In The Cards?

Time Seems Right to Buy…

Shaken consumer confidence due to the world economic crisis has clouded the fact that it’s a great time to buy, says a leading real estate investor.

“People need to be telescopic in their thinking, not microscopic,” says Don Campbell, president of the Real Estate Investment Network, which has more than 3,400 members across Canada.

“Look five to seven years from now. Eventually, oil is going to come back, albeit not super hot, but between $70 and $80 a barrel, which will do super well here and create jobs.”

January 2009 Market Update

Single-family property new listings offered to buyers in January 2009 were fewer than listings coming to market during the first month of 2008 by 31.6% while new listings of condo apartments and townhouses fell by 33.1% and 24.4% respectively.

Sales of Calgary single-family properties numbered 550 this January, 22% higher than sales activity in December. The median price of a single-family property in January 2009 recorded at $374,700, 8.6% below the median selling price last January of $410,000. The listings-to-sales ratio was 7.35:1 and the average days on market for properties selling in January 2009 was 62.

In the condominium market, 225 units found new owners during the first month of the New Year, up from the 205 condominium transactions that took place during the month of December. The median selling price of a condo unit in Calgary this January registered at $243,000, 16% below the median selling price recorded during the same month last year. The listings-to-sales ratio in this market segment was 8.55:1 and the average days on market for properties selling in January 2009 was 64.

148 townhouses changed hands this January with the median price of $320,000 a 7.17% decline from last year. The listings-to-sales ratio was 14.72:1 and the average number of days to sell was 81.

As month-over-month reveals what 2009 has in store for us, know that we’ll be here for you to keep you up-to-date on market activity. We’re committed to our long-term relationship and want all of our clients informed and confident with any decisions you make.

It takes many shaped pieces to complete a puzzle, so our information will vary. For the most part, we’ll compare month-over-month to help you see trends as they unfold.

If you or someone you know is thinking of buying or selling, call us early in the process. You’ll have needs specific only to you. The smallest pieces complete any puzzle and are the most satisfying to identify and solve.

Cheers!

Weekly Market Update – February 3, 2009

Can you believe it… January is already over… Anywho!

Over the past week, the listing count in Calgary has decreased.  This is a good thing, especially when it is mixed with the number of sales increasing.  The median prices for both condos and single family homes have stayed roughly the same as last week with condos at $248,000 (up $1,000) and single family at $377,500.  As well the average days on market have decreased and both condos and single family are sitting at 62 days on market.  With the prices staying where they are at, some would say that the market is starting to stabilize.  I do hope that this is the case, but we will need to have more than a couple weeks of data to see this.  If prices remain the same into the end of February time frame, the tides may have calmed.  We will have to wait and see.

Same as last week, many of the places that buyers are seeing are not quality listings, that do not show well.  This is one area that we try to stand out from the crowd in, and when buyers look at our listings we get many comments that the home viewed was in impeccable condition.

If you are considering buying in Calgary, right now is a great time to buy, as there are some highly motivated sellers out there.  But on the flip side, if you are needing to sell, you need to market your home a certain way, and price it properly, or it could cost you more in the long run.

Thanks for checking out our blog, and we hope that you find it informative and helpful in your real estate adventures.

8 Steps To Purchase a Home – Free eBooklet

Here is a great resource for you when looking for a new home…

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