ARTIS REAL ESTATE INVESTMENT TRUST ANNOUNCES VOTING RESULTS FROM THE 2025 ANNUAL MEETING OF UNITHOLDERS
WINNIPEG, MB, May 28, 2025 /CNW/ - Artis Real Estate Investment Trust ("Artis" or the "REIT") (TSX: AX.UN) announced today the results of matters voted on at its annual meeting of unitholders held on May 27, 2025 (the "Meeting").
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CBC
24 minutes ago
- CBC
Hamilton non-profit marks 5 years of support for Black-owned businesses, hopes to make bigger impact
Social Sharing A non-profit organization that supports Black-owned businesses in the Hamilton area celebrates its fifth anniversary this week, and one of its leaders said the group wants to make an even bigger impact in Ontario and Canada. Ashleigh Montague, co-founder of Blk Owned, said while they started in Hamilton, where most of the businesses they support are located, they've also partnered with organizations in the Niagara Region. Montague said they are now ready to take Blk Owned even further. "When I think years from now I am seeing more of a national impact," Montague told CBC Hamilton. "Within the next three years, I see expanding geographically within Ontario, strengthening the reach that we have been able to foster over the last five years." Montague and her sisters — Alexandria Montague and Abygail Montague — co-founded Blk Owned on June 2, 2020 at a time when people around the world had taken to social media to post black squares after the resurgence of Black Lives Matter, and, specifically, the murder of George Floyd by white police officer Derek Chauvin in Minneapolis. Since then, the organization created an Instagram page to showcase Black-owned businesses, launched, and has hosted markets, events, and workshops along with a Black-owned business directory that highlights and showcases businesses to the community. In 2022, Blk Owned launched a trailblazer program to help young Black entrepreneurs gain fundamental skills to help improve their business. They've had three cohorts of participants since. In all, they've supported hundreds of Black entrepreneurs, Montague said. 'Entrepreneurship is really lonely' Blk Owned has received funding from Toronto Pearson airport's Uplift Fund, as well as the Hamilton Community Foundation, Montague said, which has allowed them to launch the community platform and a hybrid version of the trailblazer program. Montague said the trailblazer program runs over a two-month period with online and in-person components. At the end of each cohort, participants receive an award and networking opportunities with more established businesses, with the other participants and with facilitators, Montague said. The in-person segment has been held at Sheridan College the past two cohorts, she added. "Because of our expansion of our program... we've had people connecting with businesses from the Brampton region, the Scarborough region, all the way through to London," she said. "With our work with the Southwestern Ontario Black Business Network, we've been able to stretch our reach all the way to Windsor." Gugu Mpofu is the owner of Oaesis Within, an organic body care and wellness company. She told CBC Hamilton that she was one of the first participants in the trailblazer program, adding that "they've really helped propel my business." "They had mentors who were part of the Hamilton Business Centre and I ended up joining their startup company plus program where I got a grant of $5,000," Mpofu said. "I've always had the support of Blk Owned, whether it's just through their programming, through their vendor markets, through their networking events, and also through them recommending me into spaces where I was able to have wholesales," she added. Mpofu, who also serves as community relationships co-ordinator at Blk Owned, said the organization is more than a support system. "Entrepreneurship is really lonely, very scary, and starting my business, I was worried about being the only Black or racialized person in the room, and just having Blk Owned it's like somebody to lean on," she said. "I can always go back to them if I'm feeling like I need a resource or if I feel like I need to join a market or if I need to network with other people … and that's something that's very precious." Anniversary celebration on June 5 Matheus Brasileiro, the founder and owner of vegan Brazilian bakery Sau Bake in the Hamilton Farmers' Market, has been in business for more than two years — first in Toronto, and then Hamilton. They said they learned about Blk Owned through a friend and participated in the trailblazer program last year, adding that it was "very helpful." Brasileiro said the support Blk Owned provides to small businesses is like "having someone that gets your back and understands the struggle that you go through as a Black business and small business." "You can't run a small business without a community, without having support, and one of the big reasons that I [got] to where I am right now with my little shop … was knowing that I had Blk Owned [to support me]," Brasileiro added. To mark the fifth anniversary of Blk Owned, Montague said the organization will be hosting a community celebration on June 5 at CoMotion On King, the co-working space out of which staff work. Montague said part of the free event will be "taking a look back at the last five years, but also taking a moment to reflect on where we're going to be going, moving forward from here." Later in the summer, on July 13, they will also be hosting a fundraiser and awards gala, called the Garden Party at the Royal Botanical Gardens, where Blk Owned will be honouring seven business owners in the Hamilton community, Montague said.
Globe and Mail
27 minutes ago
- Globe and Mail
What you need to know about Ottawa's proposed GST cut for first-time homebuyers
The new Liberal government tabled a notice of ways and means motion last week to cut the GST for first-time homebuyers, moving forward with a key campaign promise from the recent election. Ottawa's proposed cut to the GST on new homes valued up to $1-million will provide first-time homebuyers a rebate of up to $50,000. However, the rebate would be reduced gradually for homes valued above $1-million and eliminated entirely for homes valued at $1.5-million or more. Called the first-time home buyers' GST rebate, the program would allow an eligible individual to recover up to $50,000 of the GST (or the federal portion of the HST) they paid when buying a home from a builder. The rebate also applies when buying shares of a co-operative housing corporation (where the co-op paid federal sales tax) or building a new home. For homes valued between $1-million and $1.5-million, the rebate would be reduced in a linear manner and calculated as a percentage of the maximum rebate ($50,000). In answer to questions from The Globe, Department of Finance spokesperson Benoit Mayrand provided examples of how this would work. To qualify for the rebate, at least one of the purchasers of the new home must be a first-time homebuyer acquiring it for use as their primary residence. (To be considered a first-time homebuyer, an individual generally needs to be a Canadian citizen or permanent resident, at least 18 years of age, and have not lived in a home, located anywhere in the world, that they or their spouse or common-law partner owned in the current year or previous four years.) The GST rebate would be available for homes where there's an agreement of purchase and sale with a builder made between May 27, 2025 and Dec. 31, 2030, and where construction begins by Dec. 31, 2030 and is completed substantially by Dec. 31, 2035. For someone building their own home, or having it built for them, construction must begin between May 27, 2025 and Dec. 31, 2030 to be eligible, and the home must be completed substantially by Dec. 31, 2035. The rebate can only be claimed once, and can't be claimed if a person's spouse or common-law partner has already used it. The first-time homebuyers' GST rebate would operate alongside the existing GST new housing rebate, which is available to eligible buyers whether or not they've previously owned a home. Under the existing GST new housing rebate, a homebuyer can recover 36 per cent of the GST paid on a new home priced up to $350,000, resulting in a maximum rebate under the program of $6,300. The GST new housing rebate is phased out in a linear manner for new homes up to $450,000, with no rebate for homes above that amount. (There may also be rebates available on the provincial sales tax.) Mr. Mayrand provided two examples of how the two rebates would work together for a first-time homebuyer.
Globe and Mail
27 minutes ago
- Globe and Mail
With a new GST rebate coming, here's a refresher on other tax breaks for first-time homebuyers
The federal government is moving ahead with a new GST rebate for first-time homebuyers, which may complement existing programs aimed at making housing more affordable. Advisors who help clients, or their clients' children, navigate the purchase of a first home can broaden and deepen their relationship with both the client and family. 'It ends up putting you in situations in which you're having more holistic conversations with a client,' says Jason Heath, a managing partner at Objective Financial Partners Inc. in Markham, Ont. While some tax programs for first-time homebuyers are well known, others are sometimes overlooked and missed, Mr. Heath says. In general, to qualify for these federal tax programs, a first-time homebuyer is someone who has not lived in a home that they or their spouse or common-law partner owns either in the current year or any of the previous four years. Here are the key programs and credits that already exist, in addition to the proposed new first-time homebuyers' GST cut. The FHSA, introduced in 2023, allows a first-time homebuyer to save up to a lifetime limit of $40,000 toward a home purchase. Annual contributions of $8,000 (plus up to a maximum of $8,000 of carry-forward contribution room) to the FHSA are tax-deductible, while withdrawals from the account to purchase a qualifying home, including any growth, are tax-free. Ideally, a first-time homebuyer would open and begin contributing to an FHSA at least a few years before buying a home, Mr. Heath says, because FHSA contribution room begins to accumulate only after someone opens an account. However, a first-time homebuyer can still open an FHSA in the year they buy a home and contribute $8,000 before making a withdrawal. That's because there's no minimum number of days that contributions must be held in an FHSA before being used to make a qualifying withdrawal. What is a qualifying withdrawal? An FHSA withdrawal counts as a qualifying withdrawal if the account holder has a written agreement to buy or build a home by Oct. 1 of the following year, or has bought a home within 30 days before making the withdrawal. Also, the FHSA holder must not have lived in a home they owned in the year of withdrawal or any of the previous four years. Whether the FHSA holder lives in a home their spouse or partner owns isn't a determining factor when making a qualifying withdrawal. The HBP allows a first-time homebuyer to borrow from their RRSP to buy a home without being taxed on the amount. Last year, the federal government increased the amount that can be borrowed to $60,000 from $35,000. 'The old limits didn't allow you to access very much RRSP money,' Mr. Heath says, so the increased amount might allow for a bigger down payment. The borrowed amount generally must be paid back in instalments over 15 years. If the annual minimum repayment isn't made, that amount becomes taxable. Under a temporary change made last year, for withdrawals between Jan. 1, 2022 and Dec. 31, 2025, instalment payments don't have to begin until five years following the year of withdrawal, up from two years under the regular HBP rules. Unlike the FHSA, contributions to an RRSP must remain in the plan for at least 90 days before they can be withdrawn for purposes of the HBP. The Income Tax Act allows first-time home buyers to access both the FHSA and the HBP to purchase the same home. And spouses and partners can each use their own FHSAs and access the HBP to buy the same house. The HBA allows a first-time homebuyer to claim a non-refundable tax credit of $1,500 (which is calculated as 15 per cent of the $10,000 HBA). While the HBA is meant to help first-time homebuyers offset costs associated with buying a new home, those claiming the amount don't have to track expenses. If both spouses qualify as first-time homebuyers, the amount can be split between spouses but the total credit remains $1,500. (The Liberals have proposed a cut to the lowest income tax bracket from 15 per cent to 14 per cent, effective July 1, which would affect the value of the credit.) Mr. Heath says eligible homebuyers sometimes miss claiming the HBA if their tax software doesn't prompt them or if they don't inform their tax preparer that they've bought their first home. The credit is claimed in the year the home is acquired. Provinces and cities may offer their own tax breaks or credits for first-time homebuyers. For example, Ontario provides first-time homebuyers with a land transfer tax rebate, as does the city of Toronto.
