Taxes

Do non-resident CANADIANS pay UHT?

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Regardless of your country of residence, for UHT purposes you’ll be recognized as a Canadian citizen, rather than a non-resident.
Non-resident Canadian citizens do not pay Underused Housing Tax (UHT) if their name is on the property title.
Canadian ownership through a company name does not qualify for UHT exemption.

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Phase 2 properties are condo-hotels that allow 56 days of personal use.
When you are not using your phase 2 condo, it must be in the rental pool.
Buyers do pay GST on the purchase of a phase 2 hotel-condo,
The GST on the purchase of a phase 2 condo hotel unit is deferred by applying for a GST number.
Investors prefer Phase 2 properties due to lower listing prices compared to residential or Phase 1 rentals.

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Changing the intended use of a property can trigger GST obligations.
If you rent out a property and exceed $30,000 in gross revenue, you must register for a GST number.
Consult a knowledgeable accountant to navigate GST implications of a change of use in Whistler properties.
Examples illustrate how even short-term rentals can enact changes in use affecting GST.
Always seek professional advice before altering property use to understand potential consequences.

Estimated reading time: 5 minutes

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The article discusses two types of flipping tax: the BC Flipping Tax and the Federal Flipping Tax.
The BC Flipping Tax imposes a penalty of an additional 20% on property gains sold within 365 days, gradually decreasing to 0% by 730 days.
The Federal Flipping Tax, effective January 2023, treats gains from properties sold within 365 days as business income, fully taxable at the individual’s rate.
Starting January 1, 2025, a new BC home flipping tax will target short-term property sales, adding to the existing federal tax.
It’s crucial for property sellers to consult a Whistler accountant to navigate these complex tax implications and potential exemptions.

Estimated reading time: 4 minutes

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TW fees were introduced to fund tourism marketing in Whistler, specifically for properties on resort land.
There are two types of TW fees: commercial fees for nightly rentals and common fees for residential properties.
Annual payment for TW fees is due by March 31st, and owners can split payments into 10 monthly installments.
The calculation of TW fees varies by property type, with specific billing units and rates for residential and commercial accommodations.
Buyers of properties on resort land must consider TW fees during the purchase process, as these fees transfer with the property.