Marion Anderson Personal Real Estate Corporation SUTTON GROUP – WEST COAST REALTY
BC Assessment’s business is to provide a stable and predictable base for real property taxation in British Columbia. The corporation determines ownership and tax liability and classifies and values each property in British Columbia. In other words, the BC Government is legally required to know the value of all the properties within the Province. However, it does not directly affect your property taxes.
Understanding what the strata insurance covers and what your obligation as an owner in a strata is an important topic. The insurance coverage for the strata development must be included in the strata documents. Then as an owner, you take this document to an insurance brokerage and get your owner’s insurance. It is essential to get all the coverage you need so that between the strata corporation and yourself you are fully covered. The content of this post has been provided by Acera Insurance Services Ltd.
Continue reading “Strata Insurance FAQ”When a non-resident decides to sell their property, it is important to consider the tax implications. This post provides an overview of the complex process, it is a simplified version. If you are selling your property, it is recommended you read the full version on the Non-Resident: Selling page. Note: this blog was written by a realtor, not a tax accountant. The purpose of this post is to give you a sense of what you will need to know when you decide to sell your property. It is always recommended to speak with your Canadian accountant.
Continue reading “Non-Resident: Tax on Capital Gain”The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada’s financial intelligence unit. Most countries have their own version of FINTRAC. Their mandate is to prevent and deter money laundering and terrorist financing. To meet this objective, all real estate agents are legally bound to verify the identity of their clients and unrepresented parties in a real estate transaction. It is expected that this verification occur at the start of their relationship. No one buying or selling real estate is exempt from FINTRAC. Every real estate agent has a legal obligation to complete the FINTRAC forms and ask their clients questions as to the source of the funds.
Continue reading “FINTRAC”There is no Foreign Buyer Ban in Whistler. Everyone is still able to buy real estate in Whistler. The Government of Canada announced that this ban would be extended to 2027. Therefore, unlike many other Canadian locations, Whistler welcomes foreign buyers. Therefore, this post is for non-residents of Canada who are considering buying real estate in Whistler. Due to the complexities of buying property best to review the Non-resident: Buying page on this site for the full details. It covers the basics of financing and the transfer of funds once you have found a property.
Continue reading “Non-Resident: Buyers Welcome”