Disparity of exemptions across Canada
June 18th, 2006 by Questions
There is a huge disparity in exemptions within Canada with respect to home equity. In Alberta you can keep up to $40,000 of equity, BC $12,000, Newfoundland $10,000, Saskatchewan $32,000. Ontario, however, does not provide an exemption for equity in real estate; nor do Nova Scotia, New Brunswick, Quebec and Prince Edward Island. Who is it that sets these exemptions? It seems crazy that in Ontario there is no exemption for any amount.