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In Case You Missed It
What Is The Tax-Free Home Savings Account?
Aerial view of a suburb.
With the unveiling of the 2023 budget, the federal government reaffirmed its commitment to the Tax-Free First Home Savings account. The new investing instrument combines some of the better parts of TFSAs — it's tax-free! — and RPSPs — it's tax-deductible! — all with the aim of making homeownership more accessible for some Canadians. With financial institutions able to start offering FHSAs starting April 1, Helena Hanson explains what we know about the program so far.
- Go Deeper: Unlike other types of investment accounts, the FHSA has a maximum lifetime contribution limit of $40,000 — or five years of contributing the maximum annual limit of $8,000.
- READ THE FULL STORY HERE
Why Are Concert Ticket Prices So High In Canada?
A crowd gathers in front of a stage during a concert in Montreal.
We've all had the unsavoury experience of getting to the online checkout for tickets... only to discover that the $50 "lawn" seats come with $50 worth of seemingly made-up fees and charges. Service fee? Facility fee? Online ticket processing fee? Fee fee?
Well, the government has taken notice, too, using the unveiling of the 2023 budget to broach the possibility of "new legislative amendments" to counter add-on fees — not just in event ticketing but in telecom, shipping and travel industries as well. MTL Blog's Thomas MacDonald explains why that promise is little more than a flashy statement right now.
How Much Do You Need To Buy A House In Ontario?
Townhouses in Ottawa. Right: The QEW along Lake Ontario, Toronto.
Iryna Tolmachova | Dreamstime , Camrocker | Dreamstime
As Ontario continues to weather the hardships of inflation, you can't blame anyone for keeping an eye on the province's cooler real estate markets. Consider for a moment that the average price for a home in Toronto right now is about $1.1 million — meaning you'd need to earn about $168,000 a year to afford it... in a city where the median household income is just $96,700. To help calibrate the salary vs. home price conundrum, here's Rhythm Sachdeva with a look at how much money you need to make to afford the average home in eight Ontario cities.
What Else You Need To Know Today
⚾ WALK IN THE PARK
The 2023 MLB season starts today, and though the Toronto Blue Jays won't play at home until April 11, it's never too early to begin mapping out your first trip to the ballpark. To go along with a litany of physical changes to the park — particularly the amenities beyond the outfield wall — there are plenty of new food options to try out. Stuart McGinn
rounds up the best of the best
.
🏖️ NUDE DUDES
In theory, nude beaches sound like they could devolve into the sort of hedonism you might find in a Hieronymus Bosch masterpiece. In practice, it's usually just a ton of older men who are extremely comfortable letting everything hang out. Whether you're planning a visit or merely want to ensure you don't accidentally end up at one, you'll want to take stock of Katherine Caspersz's
list of Canadian nude beaches
.
⛷️ PALTROW PATROL
Occasional actor and full-time jade-egg-peddler Gwyneth Paltrow has been in court all week, where she is being sued for her involvement in a 2016 ski crash. Like a scene right out of a true crime podcast, an online spectator of the proceedings actually helped solve an aspect of the case that neither legal team has been able to figure out. Josh Elliott recaps
the bizarre latest developments
.
💪 BUILD BACK RENNER
Speaking of Marvel actors, Jeremy Renner gave his first interview since sustaining a devastating snowplow accident in January. Though the ABC News special won't air until April 6, the network teased portions of the program on Wednesday, including the 52-year-old detailing the long list of broken bones he suffered.
Here's Asymina Kantorowicz to set the scene
.
🎂
BIRTHDAYS
Houston Astros star Alex Bregman turns 29 years old today. Country music's Thomas Rhett is 33. Red Sox lefty Chris Sale is 34. Former NFL cornerback Richard Sherman is 35. Norah Jones is 44. The singular Celine Dion is 55. British blabbermouth Piers Morgan is 58. Tracy Chapman's got a fast car — and a 59th birthday. MC Hammer is 61. Canadian voice-acting legend Maurice LaMarche is 65. Paul Reiser is 67. The late Robbie Coltrane would have turned 73 today. Eric Clapton is 78. Warren Beatty is 86. Vincent Van Gogh was born 170 years ago today.
Thanks for reading Narcity's Canada Morning Brief
— the newsletter that, like Van Gogh's work, might be better appreciated once the artist's gone.
Have a question or comment about today's edition? Let me know at andrew.potter@narcity.com or hit me up on Twitter if you'd prefer at @andrewjoepotter .
Have a great day and I will see you back here tomorrow to round out the week!
