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The Internet is a valuable resource in the home buying or selling process. Here are some personal suggestions to help you on the road to success!
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Transportation Links |
BC Ferries
BC Ferries travel back and forth from Vancouver Island to mainland BC
from several locations many times daily. |
HeliJet air service
Air service including Vancouver, Victoria, Abbotsford, Whistler, Campbell River and Seattle. |
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Non Residence 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 5% Goods & Services 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.
5% Goods & Services 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% on the balance. More info about the Property Transfer Tax.
When a non-resident sells property in Canada, the Canadian Government will hold aside 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.
How to keep your cottage in the family
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