Pre-purchase implications:
- Additional property transfer tax for foreign entities and taxable trustees
- Prohibition on the Purchase of Residential Property by Non-Canadians Act (Foreign Buyers Ban)
- Anti Flipping Tax rule ( general information only )
- No age restriction in strata corporations except 55+ (applicable to renters as well)
- No long term rental restriction in strata corporations (except short term rentals if municipal or strata bylaws prohibit)
- Home Buyer Rescission Period Regulation
After purchase implications:
7. Speculation and Vacancy Tax (provincial)
8. Underused Housing Tax (Federal)
If you have any questions, please feel free to give us a call.
