BRIEF-Canada announces measures to reinforce housing finance system

Mon Oct 3, 2016 11:20am EDT
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Oct 3 (Reuters) - Canada Finance Department:

* Will close loopholes surrounding capital gains tax exemptions on the sale of primary residences

* Measures will include mortgage rate stress tests

* Will standardize eligibility criteria for high- and low-ratio insured mortgages

* Will consult to ensure distribution of risk in housing finance system is balanced (Reporting By Leah Schnurr)