Category: Contract of Purchase and Sale

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GST Buyer Information

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Is G.S.T. payable on Whistler Real Estate?

Another topic that generates a lot of buyer FAQ Whistler real estate questions is the one on the Goods and Services Tax (GST). Please note, this is a huge topic and one which cannot and should not be explained fully on any realtor’s website. Realtors have basic knowledge, but they are duty-bound to recommend you take professional advice from an accountant or lawyer. Realtors are not GST experts. In the meantime, the following information has been taken from local lawyers, Race and Company’s website.

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Property Transfer Tax (PTT)

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What is Property Transfer Tax?

Property Transfer Tax (PTT) is the Government of British Columbia’s tax on the purchase of real estate. The tax is charged at the time of closing and the transfer of title from the seller to the buyer. Financial institutions will not include PTT as part of your mortgage.

You are charged property transfer tax when you make changes to a property’s title, including but not limited to:

  1. acquiring a registered interest in the property
  2. gaining an additional registered interest in the property
  3. becoming the registered holder of a lease, life estate, or right to purchase for the property

The property transfer tax rate is:

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