Home Buyers Road Map (CREA)

2016 TopTier Report

Top Home Grants and Rebates 2016 

Difference Between BC Assessment and Realtor Assessment

Strata Act Changes for Depreciation Reports, Contingency Reserve Funds and Special Levies


Top Grants and Rebates for Buyers and Owners

BC 2% Transition Tax on New Housing (revised Oct. 2013)

Non Resident Tax Implications

  • Ownership structure – What are the advantages and disadvantages of the various ownership structures: personally, jointly with a spouse, through a Canadian company, through a foreign company, US LLC, US trust, and Bare Trust Corporation, ?  What is the difference between legal title and beneficial ownership? 
  • Financing – Is it a good idea to finance to reduce income taxes, even if you have the cash?  How does the investor minimize foreign exchange risk? 
  • GST Does it make sense to register for GST if there will be some personal use of a property which will be rented nightly?  What happens when you change the use of the property?

The following non resident information is provided by Don Nishio www.lamlonishio.ca.  

Tax Considerations for Non-Resident Individuals Investing in Canadian Real Estate (which is not rented)

Canadian Tax for Non-residents Investing in Canadian Real Estate (No Rental)

Tax Considerations for Non-Resident Individuals Investing in Canadian Real Estate (producing Business Income)

Canadian Tax for Non-residents Investing in Canadian Real Estate (Producing “business” income)

Tax Considerations for Non-resident Individuals Investing in Canadian Rental Real Estate (rented nightly)

Canadian Tax for Non-residents Investing in Canadian Real Estate (rented nightly) (Producing “rental” income)

Tax Considerations for Non-resident Individuals Investing in Canadian Rental Real Estate (rented monthly)

Canadian Tax for Non-residents Investing in Canadian Real Estate (rented monthly)

 

    Property Transfer Tax

    The Property Transfer Tax is a tax payable to the Provincial Government by purchasers of real estate.  The tax applies to all types of real estate, whether residential, commercial or industrial.

    The amount of the Property Transfer Tax is 1% on the first $200,000.00 of the property's fair market value and 2% on the remaining fair market value  Full Details: http://www.sbr.gov.bc.ca/business/property_taxes/property_transfer_tax/tax_rates.htm

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