Good advice.
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If you have been a homeowner for a number of years, you are probably quite familiar with having to pay your property taxes and/or utilities every year. But everyone can benefit from a refresher. Property Taxes Property taxes are a primary source of income for cities and municipalities to help fund services like police, fire … Continued
The Empty Homes Tax is a new tax on vacant or under-utilized properties within Greater Vancouver. We discussed the definitions and exemptions of this tax in an earlier blog post: The Empty Homes Tax in Vancouver. With the introduction of the tax, some property owners have found themselves fighting for their exemptions. Today, this post … Continued
A new year, a new tax! If you own a residential property in BC, this will affect you. It is called the Speculation & Vacancy Tax. What is the Speculation & Vacancy Tax? The speculation and vacancy tax is an annual tax potentially paid by owners of residential properties in designated taxable regions of B.C. … Continued
Alert, Vancouverites! There is a new tax you need to worry about – the Empty Homes Tax! In a future blog post, I will discuss the implications of the Empty Homes Tax on people who are selling and buying homes in the City of Vancouver. For now, I will just focus on current owners of … Continued
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
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