When investing in Vancouver, what kind of tax and how much would an overseas investor be taxed? In addition, I heard about a new high-end home tax. What’s that about?



  • When investing in Vancouver, what kind of tax and how much would an overseas investor be taxed? In addition, I heard about a new high-end home tax. What’s that about?



  • Largest tax to consider when purchasing real estate in Vancouver is the Property Transfer Tax (PTT):
    Property transfer tax rate is:

    1% on the first $200,000,
    2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000,
    3% on the portion of the fair market value greater than $2,000,000, and
    If the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000 (effective February 21, 2018 “High End Home Tax”).

    If you're a foreign national (non citizen/ non PR), foreign corporation or taxable trustee (foreign national or foreign corporation holding title in trust for beneficiaries), you must pay the additional property transfer tax on your proportionate share of a residential property transfer if the property is within specified areas of B.C. (excl First Nation Lands) Prior to Feb 20, 2018- 15% tax, after Feb 20, 2018- 20% foreign buyer’s tax.

    5% GST on New Homes (including Presales- Hot topic for foreign investors).

    Capital Gain’s tax upon disposal of real estate (50% of the value of any capital gains are taxable).

    Find more: https://youtu.be/MsgcS6XmJLw


Log in to reply