Real estate: Publications

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Tax Insights: BC imposes new 15% tax on foreign buyers of residential property

Foreign purchasers of residential property in the Greater Vancouver Regional District will be liable for a new 15% property transfer tax. The new tax will apply on transfers registered after August 1, 2016, regardless of when the contract of purchase and sale was entered into. It will apply in addition to BC’s general property transfer tax.

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Tax Insights: 2016 Federal budget – Failure to properly report grandparented sales of new housing – act now for relief

The March 22, 2016 federal budget provides relief related to GST/HST reporting of grandparented sales of new housing. This change allows the real estate industry to eliminate exposure to severe penalties for failure to properly report these sales.

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