Whistler Ski-in/Ski-out Real Estate For Sale
Marion Anderson Personal Real Estate Corporation SUTTON GROUP – WEST COAST REALTY
Non-residents who own a nightly rental property in Whistler pay 25% of the gross revenue monthly to the Government of Canada. This is called Withholding Tax. It can be reduced to 25% of net revenue. The page, Non-Resident: Owning explains what taxes and fees are due when you own a property in Whistler.
Continue reading “Non-Resident: Withholding Tax”
It is the same process for a non-resident buyer as a resident buyer to get a mortgage in Canada. Some Canadian banks want you to be in Canada to sign the mortgage documents. For a non-resident Buyer, re-financing after the purchase is not available.
Continue reading “Non-Resident: Mortgage”This is another complex topic that requires the experience of an accountant. The purpose of this post is to alert the owner that it is time to connect with their Whistler accountant. The author is a real estate agent and not an accountant.
From the Government of Canada’s website, “Changes in the Use of Your Property: When there is a change in use of a property you have, you may be considered to have sold all or part of your property even though you did not actually sell it. The following are some sample situations:
Continue reading “GST: Change of Use”As previously announced in British Columbia’s Homes for People plan, the intention of the tax is to discourage short-term holding of property for profit. Note: The BC Home Flipping Tax is separate and distinct from the federal property flipping rules and is not harmonized or administered with the federal or B.C. income tax act.
Continue reading “BC Home Flipping Tax”If you own a property located in the Benchlands, Whistler Village, or the Whistler Mountain base at Creekside, you will notice on the listing data sheet there are TW fees. To categorize these properties, we say that they are “on Resort Land”. This terminology does not relate to First Nations or Aboriginal Lands. It was a term created by the council of the day back in the eighties and has stuck.
Continue reading “Tourism Whistler (TW) Fees”