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According to the Toronto Real Estate Board, the average price of a condominium apartment in Toronto was $558,728 in Q4 2018. This is a sizeable investment.

The new year brings with it exciting changes and new laws. Here are two changes to the law that you should be aware of as you ring in 2019.

On June 7, 2018, the Ontario Progressive Conservatives were elected. Since that day, the provincial government has been moving swiftly to pass and amend laws. 

On October 17, 2018, the Federal Cannabis Act, 2018, and the Ontario Cannabis Act, 2018 became law in Ontario (“the Acts”). The Acts legalize the consumption of recreational cannabis in Canada.

Ontarians are spending vast sums of money renovating and repairing their residential properties. A 2017 report published by the Altus Group indicates that Ontarians spent $24.1 billion on alterations, improvements and conversions while an additional $7.5 billion was spent on repairs. Behind each repair and renovation is a contractor.