As you may or may not know, H.S.T. has different implications for used residential real estate and new residential real estate.

The following strategy can literally save you THOUSANDS OF DOLLARS

IMPORTANT DISTINCTION:

Remember, HST is payable on NEW HOME SALES ONLY, not on resale homes.

PS – Don’t forget Property Purchase Transfer Tax (PPTT) is over and above the HST.

The amount of the Property Transfer Tax is 1% on the first $200,000.00 of the property’s fair market value and 2% on the remaining fair market value.

As a first time buyer and with a purchase price not exceeding $425,000, you may apply for this exemption.

My friend Tony Spagnuolo at www.bcrealestatelawyers.com

has a great HST calculator www.bcrealestatelawyers.com/pricing/hstcalculator.html

Please leave your comments below.

Mark Fidgett
Vancouver Mortgage Broker
Owner www.NotaPennyDown.com
604-273-2002