Whistler Ski-in/Ski-out Real Estate For Sale
Marion Anderson Personal Real Estate Corporation SUTTON GROUP – WEST COAST REALTY
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”When buying a property in Whistler and furniture is included, Provincial Sales Tax (PST) is applicable on the value of the furniture. I have this on the authority of a Race and Company lawyer. This 7% PST is charged on used furniture and has to be accounted for. This tax will be of most concern to the buyer who is financing the purchase as the mortgage company will not finance furniture. However, like everything else in financing…it depends.
Continue reading “Provincial Sales Tax (PST) on Furniture”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.
Continue reading “GST Buyer Information”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:
The property transfer tax rate is:
Continue reading “Property Transfer Tax (PTT)”