Voyageur 27
News for residents of the “11th province”: Canadians abroad.
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Ottawa Unveils Asylum Policy Overhaul
In response to a record influx of asylum seekers, Canada is proposing amendments to speed up the deportation process for rejected claimants, as outlined in the 2024 federal budget. The new rules will streamline asylum claims to make faster decisions and removals as a backlog that has seen a 62% increase in asylum applications since last year continues to grow. These changes are hoped to help address Canada's housing crisis and manage its capacity to absorb newcomers effectively. Critics, however, warn that these efficiencies might compromise the rights of asylum seekers.
Read more: Global News
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Tax Changes Bring Cottage Market Opportunities
The 2024 federal budget has introduced changes to capital gains taxation that are causing a stir in the cottage market. Starting June 25, 2024, the inclusion rate for capital gains will rise to 66.7% for gains over $250,000, impacting owners of secondary properties like cottages. This means that many cottage owners are thinking about whether to sell before the changes take effect. If you’ve been waiting on the sidelines to scoop up something in cottage country, this may be your chance.
Read more: Global News