Invest your money where it matters the most.

At Magnum Wealth Partners, we have several options to help you invest your money right. We are vigorous in analyzing and evaluating real estate projects that meet our expectations before offering our clients the opportunity to invest. Why are real capital investments gaining popularity? This article explains how the real estate market is right now in Toronto. That's Why.

Market Watch

 

Tight Market Pushes the Average Price above $500K

March 5, 2012 -- Greater Toronto REALTORS® reported 7,032 sales in February 2012 – up 16 per cent compared to February 2011. New listings were also up over the same period, but by a lesser 11 per cent to 12,684. It is important to note that 2012 is a leap year, with one more day in February. Over the first 28 days of February, sales and new listings were up by ten per cent and six per cent respectively.

“With slightly more than two months of inventory in the Toronto Real Estate Board (TREB) market area, on average, it is not surprising that competition between buyers has exerted very strong upward pressure on the average selling price. Price growth will continue to be very strong until the market becomes better supplied,” said Toronto Real Estate Board President Richard Silver.

“It is important to note that both buyers and sellers are aware of current market conditions. This is evidenced by the fact that homes sold, on average, for 99 per cent of the asking price in February,” continued Silver.

The average selling price in the Toronto Real Estate Board market area was $502,508 in February – up 11 per cent compared to February 2011. The Composite MLS® Home Price Index for TREB, which provides a less volatile measure of price growth compared to the average price, was up by 7.3 per cent compared February 2011.

“If tight market conditions continue to result in higher than expected price growth as we move into the spring, expectations for 2012 as a whole will have to be revised upwards,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “While price growth remains strong, the average selling price remains affordable from a mortgage lending perspective for a household earning the average income in the GTA.”

5 year freeze on expected tax cuts

It'll be at least 5 years before another sniff at a cut...

Ontario Finance Minister Dwight Duncan announced on Tuesday that plans for corporate tax cuts will be put on hiatus until the province can get back on track with its debt.

Businesses were looking forward to a drop from the current corporate rate of 11.5% down to 10%. They will now have to wait at least five years for any chance at seeing those cuts take shape.

As the Liberals look to balance the ledgers by 2018, businesses that were counting on a tax break need to find other ways to save cash for the near future.

Will this news cause significant hardship for your business?

See below for an excerpt from the article.

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By Romina Maurino, The Canadian Press, thecanadianpress.com, Updated: March 27, 2012 8:08 PM

Ontario delays cut to corporate tax rates

It's a move Finance Minister Dwight Duncan called necessary, and one he said will put $1.5 billion in government coffers over three years.

The budget also promised to save $250 million by merging many business support programs into a Jobs and Prosperity Fund, as well as freeze scheduled decreases in business education taxes, again until the budget is balanced, for an additional $300 million in savings.

Duncan said he spoke with various business leaders and they "recognize that the business community has to make its contribution."

"We have made Ontario a more attractive place for businesses to invest and create new jobs," Duncan told the legislature while delivering his budget.

"So we are asking business to do its part to help Ontario balance its budget."

View the full article here at MSN Money Canada

Source URL: http://money.ca.msn.com/investing/news/business-news/ontario-delays-cut-to-corporate-tax-rates

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The Story of Magnum Wealth Partners

 Magnum Wealth Partners was founded in 2004. It is the outcome of the principal's many years of experience in the financial services industry.

Our understanding of the market place from both the client and advisor perspective helped us in our crusade to become one of the most respected organizations in our field.

We represent and serve every segment of the market place from a basic individual family plan to the most advance estate planning scenario.  Our advisors are well versed and highly educated to provide valuable services and advice, coupled with honesty, integrity and ethical practices

Our commitment goes well beyond making a sale, we strive to ensure our clients best interest is served first, whether it is a basic family need, a business, professional or corporate need, they are all treated with the utmost care and professionalism.  When dealing with Magnum Wealth Partners you are dealing with an organization that demonstrated clarity of vision and solidity of purpose for the benefit of our clients and advisors alike.

Contact us today for more information.