If you’ve been asked to show identification for a transaction, even as a long-time customer, you may wonder why it’s necessary. These requests are part of Canada’s efforts to combat money laundering and terrorist financing, ensuring the safety of our financial system.
What is the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)?
The Proceeds of Crime (Money Laund…
As British Columbia continues to combat climate change, the province has increased the Climate Action Tax Credit to provide more financial support to low- and moderate-income families. Starting from July 5, 2024, over two million families and individuals began receiving higher payments directly in their bank accounts.
Why the Increase Matters With the increasing impact of climate change, in…
In September 2024, the Canadian government introduced major mortgage reforms to help more Canadians, especially Millennials and Gen Z, achieve homeownership. These changes, effective December 15, 2024, aim to lower mortgage costs and increase access to home loans.
Key Changes:
Increased Insured Mortgage Cap: The limit for insured mortgages will rise from $1 million to $1.5 million, allow…
In May 2023, British Columbia passed the Pay Transparency Act, marking a significant change in how employers must report gender pay gaps. To assist with this transition, the B.C. government has introduced an online pay transparency reporting tool designed to streamline the reporting process.
What is the Pay Transparency Reporting Tool?
The pay transparency reporting tool is an online re…
The recent developments surrounding the Legal Professions Act (S.B.C. 2024, c. 26) have raised important questions within the legal community. As a notary public, it’s essential to stay informed about these changes and understand how they might affect your practice.
In June 2024, the Law Society of British Columbia sought an injunction to pause the implementation of the transitional provisio…
As a homeowner in British Columbia, you’re likely familiar with property taxes. But did you know there’s a program that can help you reduce your bill significantly? The B.C. homeowner grant offers valuable property tax relief for qualified residents.
Here’s what you need to know about the homeowner grant:
Eligibility: The grant is available to homeowners who use their property as a princ…
British Columbia recently implemented changes to the Residential Tenancy Act, impacting notice periods for tenants when a property is sold. While this aims to protect renters, it also presents unforeseen challenges for homebuyers, particularly those relying on mortgage financing. Here’s a breakdown of the new rules and how they affect both buyers and sellers:
Changes to Notice Periods:
E…
Congratulations! You’re ready to turn your entrepreneurial dream into reality by starting a business in Canada. The possibilities are exciting, but the process can feel overwhelming. The good news is there are resources available to help navigate the legalities and ensure a smooth launch, including a valuable partner: your local notary public.
Building Your Business Foundation
The Canadia…
While the Express Entry System offers a path to Canadian residency for skilled workers, navigating the legalities can be complex. This is where a notary public can become your trusted partner. This blog post will explore the Express Entry System and highlight how a notary can support your application.
Understanding the Express Entry System
The Express Entry System is a merit-based program…
