fishinglibin Posted January 31, 2013 Share Posted January 31, 2013 Howdy All, I am aware that when you purchase a home in BC, you pay a 1% real estate fee tax. Does anyone know if any other provinces have this tax as well? Thanks Quote Link to comment Share on other sites More sharing options...
TerryH Posted January 31, 2013 Share Posted January 31, 2013 The city of Toronto has a real estate tax. Quote Link to comment Share on other sites More sharing options...
fishinglibin Posted January 31, 2013 Author Share Posted January 31, 2013 Hi Terry, is that just for Toronto or the whole province. Starting to plan retirement, and want a summer home in Canada and a condo or small home in a warm climate, Mexico or Panama. Likely stay to western Canada but will consider east, so long as it is near good fishing pref fresh water, and according to the boss, not too far from a community with a hospital. (Don't know if she is psychic) Quote Link to comment Share on other sites More sharing options...
Blackant Posted February 1, 2013 Share Posted February 1, 2013 Fishinglivin, Your best course of action is to talk to an independant mortgage broker that has access to multiple different banks, they will have the answers you are looking for regarding purchasing and selling, as well give you the right financial advice. Quote Link to comment Share on other sites More sharing options...
TerryH Posted February 1, 2013 Share Posted February 1, 2013 Hi Terry, is that just for Toronto or the whole province. ................. It's just in Toronto -- called the land transfer tax. I'm not aware of other jurisdictions in Ontario with a similar tax, but there could be some. The Toronto tax is part of the tax and spend legacy of Toronto's previous lefty pinko mayor. More info here: http://www.toronto.ca/taxes/mltt.htm Quote Link to comment Share on other sites More sharing options...
fishinglibin Posted February 2, 2013 Author Share Posted February 2, 2013 I guess if you end up where you really want to be, the 1% is worth it, if BC is the place. Quote Link to comment Share on other sites More sharing options...
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