Non Resident Info
Non Resident Purchases
The purchase of property in British Columbia for non-resident buyers is simple.
You have the right to purchase and own any property you choose.
All sellers are required to pay 12% Harmonized Sales Tax on the commission of the sale.
The purchase of British Columbia property can only be registered by a BC licensed Lawyer or Notary.
There is no Provincial Sales Tax on the sale of BC property.
12% Harmonized Sales Tax may be applicable on the purchase of some property.
Such properties would include those built new and not previously occupied, those where the seller is a company or
corporation and those where the property has been used to earn income.
All Purchase of property in British Columbia is subject to Property Transfer Tax of 1% on
the first $200,000 and 2% above $200,000 of the purchase price.
Non Resident
Sales
When a non-resident sells property in Canada, the Canadian Government will hold aside
approximately 25% of the sale price for a short time to ensure any taxes you may owe are paid.
Upon proof that you owe no taxes within Canada the money is returned to you.
I recommend you seek the professional opinion of a BC Licensed Lawyer and Accountant
in these matters.
< Newsletters Buyer Services >
|
