BC’s New “Speculation” Tax

BC’s New “Speculation” Tax

B.C. Speculation Tax Urban centres throughout the province are in a housing crisis. Rents and home prices have surged past local incomes and, in many communities, vacancy rates sit close to 0%. Speculation has contributed to runaway prices and made it difficult for...

Costs

GST – 5% of purchase price of new homes. You may be able to get the Seller to pay this depending on market conditions. Ensure that it is clearly stated in your Contract of Purchase and Sale. For more information on GST rebates...

The New Foreign Buyer and Property Taxes

The 2018 BC Budget was just announced introducing new taxes for real estate. They are: Foreign Buyer Tax Effective Feb. 21, 2018, the foreign buyer tax will increase to 20 per cent (from 15 per cent) and will be extended to the Fraser Valley, Capital, Nanaimo, and...

Resources for Buyers

Home Inspection Association of BC – Find a qualified home inspector BC Hydro – Open an account or move services Terasen – Open an account or move services Telus – Open an account or move services Shaw- Open an account or move services Home insurance – BCAA, Westland...