Good advice.
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The tax one must always consider when purchasing or acquiring any real estate in BC is the Property Transfer Tax. For our previous post on the subject, please click HERE But on February 20, 2018, the BC NDP Government’s Budget made some changes to the Property Transfer Tax. What is the Property Transfer Tax When … Continued
When determining the type of mortgage that is best suited for you, one factor to consider is the Prepayment Penalty. A Prepayment Penalty is a fee that your lender may charge if you make more than the allowed additional payments toward your mortgage, or you pay off your mortgage entirely before the end of your … Continued
When buying a newly built or substantially renovated home, one tax to consider is the GST. GST is payable on the purchase price of newly constructed homes in Canada. The GST is currently 5%. You may qualify for a GST rebate after the purchase of your new home. There are two rebate programs available: the … Continued
The tax one must always consider when purchasing or acquiring any real estate in BC is the Property Transfer Tax. For more information about what it is and how it is calculated, click on the following link: http://www.dbmrealestatelaw.com/property-transfer-tax/ A first time homebuyer may qualify for a complete or partial exemption of the property transfer tax. … Continued
Are you considering purchasing or selling a single-family home, townhouse, condo, or other real property? Are you considering offering or accepting no subjects to close the deal? If so, prior to making or accepting the offer, you and your realtor ought to know that the Doctrine of Caveat Emptor or in lay terms, the concept … Continued
The tax one must always consider when purchasing or acquiring any real estate in BC is the Property Transfer Tax. For more information about what it is and how it is calculated, click on the following link: http://www.dbmrealestatelaw.com/property-transfer-tax/ But a first time homebuyer may qualify for a complete or partial exemption of the property transfer … Continued
Effective August 2, 2016, an additional property transfer tax applies to residential property transfers to foreign entities in the Greater Vancouver Regional District. The Amount of the Additional Property Transfer Tax The additional tax on property transfers to foreign entities is 15% of the fair market value of the foreign entity’s proportionate share of a … Continued
Some BIG NEWS Regarding the Property Transfer Tax! Please be advised that there is a Property Transfer Tax charged in B.C. for all transfers of property. The Property Transfer Tax on your purchase will be based on the contract purchase price and any additional upgrades charged in the Contract on top of the original purchase … Continued
In the BC Provincial Budget of February 18, 2014, the amounts for the First Time Home Buyers exemption have been increased as of February 19. For more details, click here: http://www2.gov.bc.ca/gov/topic.page?id=BBD16E2D7C1841A7BBD420E3AC5380F1