Whistler Ski-in/Ski-out Real Estate For Sale

June 25, 2024September 25, 2024

Non-Resident: LLC Purchase

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Can American Buyers Open an LLC in Canada?

The LLC arrangement for business ownership is not offered in Canada. A Canadian business can not be located in Canada (on paper) and run as an LLC. This is why many Canadian companies operate as LLPs (Limited Liability Partnership) instead of LLCs. This would be a topic for a British Columbia lawyer, not a Whistler realtor. An American Buyer may want to put their property in an LLC because they want to keep the property at arm’s length from litigation. In the United States, a limited liability company (LLC) is a business structure that offers limited liability protection and pass-through taxation. As with corporations, the LLC legally exists as a separate entity from its owners.

April 3, 2024August 20, 2024

Property Taxes

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How are Whistler Property Taxes Calculated?

The Resort Municipality of Whistler’s annual property taxes will be noted on the listing data for each property. These taxes will probably increase every year based on the Resort Municipality of Whistler (RMOW) budget increases. The BC Assessment occurs annually and the owner is notified in early January of any increase and decrease in the assessed value of their property. The value is based on the sales in the area in the previous year. Click the link for more insight into BC Assessment.

March 11, 2024August 20, 2024

GST: Change of Use

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Change in the Use of Your Property May Trigger GST

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:

February 26, 2024August 20, 2024

BC Home Flipping Tax

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BC Home Flipping Tax Affects Non-Residents and Residents

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.

February 12, 2024August 20, 2024

Tourism Whistler (TW) Fees

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What are Tourism Whistler (TW) Fees?

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.