A
F
  604-671-6269
Connect
A
F

Aki Li Foster

Macdonald Realty Ltd.

RSS

Posted on by
Posted in Tax
BC residents have been very vocal about the HST, but it is coming on July 1, 2010.  This is the combination of the PST 7% and GST 5% combined into a 12% Harmonized Sales Tax HST.  We better start preparing for this change.
 
If you buy a new presale residential property and the agreement is signed and dated on or before November 18, 2009 and you take ownership or possession before July 1, 2010, you do not pay HST and also not eligible for a New Housing Rebate.
 
However, if you take ownership or possession after July 1, 2010 you will pay HST and may be eligible for a New Housing Rebate.
 
The Real Estate Board of Greater Vancouver provides lots of info and answers regarding HST for properties. Do contact them if you have questions at www.realtylink.org .
 
Aki Foster
 
 
Read

Posted on by
Posted in Strata Properties
The Strata Property Amendment Act received Royal Assent on October 29, 2009.  That means changes will be coming soon once regulations are passed.
 
Some of the important changes are the audition of the financial statement by a qualified person, Depreciation Reports accessible to owners and buyers, separate fund account for Special Levies, improvements for disputes, and lower percentage of votes for resolutions.  For potential buyers, changes also mean clarifications on  areas such as rental restrictions of strata units, age restrictions, disclosure of parking and storage.  At the moment, the above issues sometimes cause confusion and misunderstanding among buyers and sellers.  As soon as changes are passed, I will update.
 
Aki Foster
 
 
Read
Categories:   Homeowners Temporary Rental | Real Estate | Real Estate Market Information | Strata Properties | Tax
Powered by myRealPage.com