Canada Tightens Real Estate Tax Loophole For Foreign Investors

Federal Finance Minister Bill Morneau has announced new measures designed to help stabilize Canada's housing market, particularly in overheated areas such as Vancouver and Toronto.

Among them will be the closure of a loophole some foreign residents are using to avoid paying capital gains tax on investment homes.

Going forward, only people who used their home as a principal residence will be eligible for the government's exemption, Morneau said.

"We want that exemption to be appropriately interpreted," he told reporters.

"We need to have the beneficial owner of the home being here in Canada, we have to have that owner living in the home as their principal residence."

Foreign Minister John Baird meets with Israel's PM today

 Israeli Foreign Minister Avigdor Lieberman, center left, shakes hands with his Canadian counterpart John Baird during their meeting in Jerusalem, Sunday, Jan. 18, 2015. 

The Canadian Press 

Foreign Minister John Baird meets with Israel's prime minister today as he continues a trip through the Middle East.

Baird is expected to talk to Benjamin Netanyahu about about regional security issues, the Middle East peace process and trade.

Baird received a less than warm greeting on Sunday when he went to meet with Palestinian officials.

Demonstrators unhappy with Canada's staunch pro-Israel stance pelted Baird's motorcade with eggs and shoes but none struck the foreign minister.

Palestinians hurl eggs at convoy of Canadian Foreign Affairs Minister John Baird.

Palestinian protesters hurl eggs at the vehicle of Canadian Foreign Minister John Baird as he leaves following his meeting with Palestinian Foreign Minister Riad Malki, in front of the Palestinian foreign ministry in the West Bank city of Ramallah, Sunday, Jan. 18, 2015. Dozens of Palestinian protesters have hurled eggs and shoes at the convoy of the visiting Canadian foreign minister. (AP Photo/Nasser Nasser)

The Associated Press
Dozens of Palestinian protesters in Ramallah hurled eggs and shoes at the convoy of Canadian Foreign Affairs Minister John Baird.

Baird travelled to the West Bank city today to meet with Palestinian Foreign Minister Riad Malki.

The protesters held signs reading: “Baird you are not welcome in Palestine.”

Activists from Palestinian President Mahmoud Abbas’ Fatah party had earlier called for a boycott of the minister because of the Canadian government’s perceived pro-Israel stance.

Baird is in the region for four days of meetings with Israeli and Palestinian officials.

Foreign affairs minister denounces lashing of Saudi blogger

Ensaf Haidar, left, wife of blogger Raif Badawi, takes part in a rally for his freedom, Tuesday, January 13, 2015 in Montreal. THE CANADIAN PRESS/Ryan Remiorz

 Mike Blanchfield The Canadian Press
Foreign Affairs Minister John Baird has publicly denounced the flogging of a Saudi blogger, calling for clemency in the case.

In a statement, the minister responded for the first time to the sentence handed down last May to blogger Raif Badawi, who received 10 years in prison and 1,000 lashes after he criticized Saudi Arabia’s clerics on a liberal blog he founded.

The first 50 of those lashes were delivered last Friday; Badawi is expected to receive 50 more every week for the next 19 weeks.

“Canada is deeply concerned by the public flogging of Raif Badawi. This punishment is a violation of human dignity and freedom of expression, and we call for clemency in this case,” Baird said in a statement released early Wednesday evening.

Foreign Owned Condo Rentals A Small Part Of Canada Housing Market

Rob Atkins /Getty Images

Canada Mortgage and Housing Corp. says only a small minority of the condos for rent in most major urban areas have foreign owners, although some neighbourhoods in Vancouver, Toronto and Montreal are higher.

The CMHC says its first survey of foreign ownership of condos for rent found a wide range within the 11 major markets that were tracked, from a high of 2.4 per cent in Toronto and 2.3 per cent in Vancouver to a low of only one-tenth of a percentage point in several cities.

The survey suggests, however, that certain areas of Montreal had Canada's highest concentration of rental condos under foreign ownership — at 6.9 per cent.

Parts of Vancouver had about 5.8 per cent of rental condos under foreign ownership while in Toronto's centre core the rate was about 4.3 per cent.

Foreign Countries With The Highest Number Of Criminals In Britain