Sales Taxes
Taxes may be applied based on the purchase price of a property. Many properties are exempt from sales tax (GST and/or PST). For instance, residential resale properties are usually exempt. However, others, like newly built properties are not exempt and require the buyer to pay GST. Before signing your offer, be sure you understand the tax implications.
About The Author
Don Scott
Don Scott is the founder of a challenger mortgage brokerage that is focused on improving access to mortgages. We can eliminate traditional biases and market restrictions through the use of technology to deliver a mortgage experience focused on the customer. Frankly, getting a mortgage doesn't have to be stressful.
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