Category: Taxes

When I speak with Buyers about GST I ask them their intent of the use of the property. So, what happens if the intent of use changes over the course of ownership? For example, the intent was to rent out the phase 1 property and generate as much revenue as possible, now the owners want to keep it for personal use. This enacts a change of use, and now GST may be due on the property.

The opposite version is, the intent was to keep the property as residential and now the owners want to rent it out nightly. Once you get to $30,000 gross business revenue you must apply for a GST number. However, renting out your Kadenwood house at $5,000 a night for 7 nights that’s $35,000, is that a change of use? It can be a problem to change the intent of use even for a year.

Yes! The days of buying and flipping property in Whistler now have tax consequences imposed by both the BC and the federal governments.

These are two separate flipping taxes with different criteria and consequences. The BC Government carries a penalty of an additional 20% on gains in the first 365 days, and then the penalty decreases to 0% by 730 days. The federal government tax applies 365 days after purchase, resulting in full taxation at the individual’s tax rate. There are many exemptions, and who knows, you might be able to find one that works.

If you’re thinking about buying a property close to the ski-slopes or Whistler Village you’ll notice on the listing data sheet there are TW fees.

In the eighties, major developments were being constructed in Whistler and these were residential developments with tourist accommodation zoning. The municipality realized it had to spend marketing dollars promoting Whistler to the tourists who would come and stay in those developments. So the TW fee was born.

Now the TW fee is administered by Tourism Whistler. There are two types of fees, commercial fees for properties used for nightly rentals, and common fees for residential-only accommodation.