March 2016

Do you have a question about recent changes to the Property Transfer Tax?

Posted on Mar 17, 2016

Q: How is the government going to monitor the 1 year occupancy detail?
A: As with the First Time Home Buyers' (FTHB) exemption, the Ministry will send a letter to the purchaser at the end of the year to confirm compliance.

Q: If a client is a FTHB and purchases a 550K used (not new) property, do they still pay PTT?
A: Yes, the $475K limit remains the...

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