Thứ Tư, 29 tháng 11, 2017

News on Youtube Nov 29 2017

How much will the land transfer tax cost you on your next purchase?

I'll give you all the details, coming up!

Hey everyone, Ivan Mamuzic here and on this channel we talk about real estate news, tips,

and updates for the Toronto area so if you're new here, consider subscribing.

Also at any point during the video take a look at the links in the show notes below

for listing information, or to get in contact.

When purchasing a property in Ontario the land transfer tax is usually the biggest closing

cost that you're going to have, so it's important to know how to calculate it so that you're

not surprised when closing day comes.

The tax is calculated based on the price of the property, so depending on how high the

price is, different tax rates apply.

As you can see in the chart, the rate starts at just 0.5% for the first $55,000 of the

purchase price, and it goes all the way up to 2.5% for any part of the purchase price

that is over $2,000,000.

It's also important to note that if you purchase a property in the city of Toronto, in addition

to the provincial land transfer tax, you also have to pay a municipal land transfer tax

to the city of Toronto, so you're essentially paying this tax twice.

Here's a quick example featuring a $500,000 purchase.

The first $55,000 will be taxed at 0.5%, then the next $195,000 will be taxed at 1.0%, the

following $150,000 will be taxed at 1.5%, and the balance which is $100,000 will be

taxed at 2.0%.

This gives you a total of $6,475 of tax payable.

Now I know that's a lot of numbers, so don't bother memorizing that.

If you just go to bit.ly/landcalc you'll have access to a free land transfer tax calculator,

where you can just plug in the numbers, and it'll do all the calculations for you.

The final thing I'm going to talk about is the land transfer tax refund for first time

home buyers.

Eligible first time buyers can receive a refund of up to $4,000 for the provincial land transfer

tax, and up to $4,475 for the Toronto municipal land transfer tax.

So from our first example where we purchased a $500,000 home the land transfer tax would

now be reduced to $2,475.

If you're wondering if you qualify for the refund, I posted a detailed description in

the show notes about the qualifying guidelines.

If you have any questions about the land transfer tax, let me know in the comments.

Thanks for watching, and don't forget to subscribe for more real estate content!

For more infomation >> Land Transfer Tax Ontario How To Calculate the Land Transfer Tax - Duration: 2:40.

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How Much Time Do We REALLY Have Left? (This is How Short Your Life Is) - Duration: 6:25.

Hey everyone Daniel here from Next Level life and today I wanted to do something a little

bit different.

You see on this channel I talk about a lot of things, I talk about finances, I talk about

productivity and how to get ahead in your career, I talk about how to get better at

various social skills and have stronger and more fulfilling relationships, I talk about

your psychology and mental health.

I even talk about education and intelligence and of course I do the book summaries.

Basically anything to help you get your life to the next level.

But one thing that I don't talk about often enough is time.

Because one of the traps of the self development community is that you can easily find yourself

watching all of these videos and getting all these truly great ideas but, without really

realizing it, you find yourself getting sucked into the black hole of the internet.

You're watching all these videos on YouTube or wherever and before you know it 6 hours

have flown by you look out the window and it's dark and you're like what the heck just

happened?

It's an easy trap to fall into and I even fell into it when I first got into this community.

I watched a ton of these videos, but never actually did anything with the knowledge I

was picking up, because I was spending all my time watching the videos.

And the trick that I eventually found that really helped me break that cycle is known

as the 3, 2, 1 go trick.

Basically all you have to do is picture a goal that you want to achieve in your mind

and figure out the next step you have to take in order to either achieve that goal.

Now note I said the next step not the whole plan necessarily just the thing you'd have

to do right now.

And then in your mind you say Okay 3, 2, 1 go.

And as soon as you say go no matter how you're feeling you get up and you do that next step

that you had in your mind.

Now why do I feel that idea is so important that I'd do a full video on it?

Well it's because a lot of the time you have on this Earth is not your own.

Let me explain.

When you're young life and everything in it seems like it'll go on forever.

You're in school forever, you're at work forever, chores take forever, oh and did I mention

school takes forever.

Can't I just go out and play?

Obviously when we grow up we realize that these feelings of everything takes forever

aren't necessarily true.

But you know what when you actually break down the math it's a lot closer to true than

you think.

With that in mind, in this video I'm going to be talking about how much time we really

have?

Statistically from the moment you're born, at least here in the States, you have approximately

79 years to live which to most of us seems like a long time but how much of that time

is really our own?

You spend about a third of your life sleeping, which leaves you with roughly 52 years of

conscious living left.

But wait you're in school a ton of time, and even assuming that you get all your homework

done between the end of the lecture and the Bell you're still in school or traveling to

or from it everyday for roughly 7 hours.

That's 35 hours a week for at least 12 years assuming you don't go to college, which equates

to nearly another two full years of your life on Earth.

Now you have 50 years left to live.

But you still got to work, and even assuming you have no overtime that's 8 hours a day

for roughly fifty weeks a year, for at least 40 years.

And that's assuming that you're able to retire at a decent age!

Meaning your work effectively takes off another 10 years of your life.

Now you have 40 years to live.

Oh but wait we didn't even talk about traffic!

According to the US Department of Transportation the average one-way commute time in the US

was just a little bit under a half an hour, meaning you've got about an hour of driving

everyday, 5 days a week.

Again assuming you never have to go in on a weekend, that's about 250 hours of driving

a year just for work!

Say goodbye to another year of your life.

Now you have 39 years to live.

Another thing we didn't consider is that you have to get ready to leave the house everyday,

you figure between brushing your teeth, going the bathroom, showering, and getting ready

as well as making sure the kids are ready maybe takes close to an hour on average.

Meaning we've just lost another year.

Down to 38.

Oh, wait you need food to live.

So meal planning, the commute to and from the grocery store, and shopping not to mention

getting it all unpacked and back in the house every week or maybe even every few days depending

on your schedule adds up to about two years of your life.

Only 36 years left.

Then just between eating and drinking every single day.

Say it takes you about a half hour per meal on average, you lose another five years.

You have 31 left.

In between cooking and cleaning and housework or yard work, you spend about another 6 years

of your life.

The balance is now down to 25.

Most parents spend at least a couple of years caring for kids and loved ones not to mention

driving them everywhere.

We're now down to 23.

And something that's especially applicable for my generation is the amount of time we

spend either watching TV playing video games or on social media, according to some recent

articles by Entrepreneur magazine, millennials spend an average of 5.4 hours per day using

some form of social media.

You add that up Across their entire lifetime, and it's nearly 18 years on social media.

That means out of our 79 year lifespan you have 5 to spend with your family or with your

friends.

To play laugh and cry.

To fall in love, to see the world, and to pursue your passions.

So whatever it is you want to do.

Whatever it is you've been holding back on.

Take a moment right now and realize there's no time to waste.

I'm issuing you a challenge.

Picture the thing you want to do in your mind and think of what you have to do to achieve

that goal.

Have you got it?

Okay.

3, 2, 1...

Go.

For more infomation >> How Much Time Do We REALLY Have Left? (This is How Short Your Life Is) - Duration: 6:25.

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REVEALED: Here's How Much Obama Vacations Cost Us, This Is Unreal - Duration: 3:52.

New shocking details have emerged surrounding the specifics of how much President Obama

set-back American taxpayers for his recreational trips.

According to Judicial Watch, the Obama Family's total travel expenses while in office were

just over $114 million, which include family vacations, recreational trips, talk show appearances,

and other expenditures.

The conservative watchdog group recently announced that it obtained records from the US Air Force

and the Secret Service relating to their recent Freedom of Information Act (FOIA) request

for the travel expenses of former President Barack Obama as well as President Donald Trump.

First filed in May 2017, the FOIA lawsuit ended up producing records that showed the

Obama Family's travel expenses cost American taxpayers $114 million in total.

Among those costs included one family trip where Michelle Obama and her daughters shut

down an airport for an hour for their annual vacation to Aspen, where they spent over $88,000

for a weekend trip.

In another instance, President Obama's annual golfing trip to Palm Springs cost over $183,000

for a weekend as well.

However, these expenses are still a far cry from some of their most expensive trips.

The Obama Family's Christmas vacations alone have cost taxpayers close to $35 million,

according to The Washington Times.

The Secret Service also revealed that Mr. Obama spent considerable amounts in post-presidency

travels as well, which were reimbursed by American taxpayers.

Billing close to $2 million in total travel costs, with $936,000 on hotels and another

$814,000 on "miscellaneous expenses," these hefty reimbursements were made while

not knowing anything about the destinations of these trips, which were withheld under

"privacy" and "law enforcement" exemptions.

This updated figure of $114 million is an increase from previous reports earlier in

this year, which calculated President Obama's travel expenditures to be closer to $100 million.

In 2016, the figure was thought to be even lower, estimated at $85 million.

Judicial Watch focused on trips that they deemed to be non-essential, such as golfing,

vacations, fundraisers, campaign stops, and talk show appearances.

Tom Fitton, Judicial Watch's president, said he was frustrated that it required several

federal lawsuits to get the government to release this information, especially since

he felt the public deserved to know where their tax-funded dollars were going to.

"It shouldn't require federal lawsuits to prod the Secret Service and Air Force to

produce information about the costs of presidential travel – whether the travel is necessary

or not, it's a massive amount of money," said Mr. Fitton.

"We will continue to monitor this spending while taxpayers continue to pay the bills

for presidential travel."

He also mentioned that it is troubling to see such massive amounts of money being paid

on trips that "appear to have minimal value to the public interest," while at the same

time hoping that President Trump "can immediately save taxpayers money by reforming presidential

travel."

At the moment, President Trump's total travel costs are calculated at just over $10 million

in his first year, lower than the average $14 million spent on travel expenses during

Barack Obama's tenure.

Most Americans would agree that these costs are wasteful expenses that could be better

spent elsewhere.

As the nation deals with a $20 trillion dollar national debt, these kinds of expenditures

need to be curtailed.

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