fishinglibin Posted January 31, 2013 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
TerryH Posted January 31, 2013 Posted January 31, 2013 The city of Toronto has a real estate tax. Quote
fishinglibin Posted January 31, 2013 Author 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
Blackant Posted February 1, 2013 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
TerryH Posted February 1, 2013 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
fishinglibin Posted February 2, 2013 Author 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
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