Do I Pay HST on Buying a Used Property? Condoguys Vancouver Discusses
There has been a lot of confusion as to what HST applies to when it comes to buying and selling real estate in British Columbia.
As per Spagnuolo and Company Real Estate website:
Used residential housing has not been subject to G.S.T. and will not be subject to H.S.T. That is the good news. The bad news is that clients who are buying or selling used residential housing will still pay more in tax for services such as appraisals, home inspections and real estate commissions. Legal fees do not increase as lawyers were required to charge P.S.T. on their fees prior to the implementation of H.S.T. Although there are higher costs when purchasing or selling used residential real estate, the costs are generally not prohibitive and should not stop anyone from buying or selling used property.
For more information about buying or selling Real Estate in BC please contact Condoguys Real Estate Marketing.
Visit us at www.condoguys.com or email us directly at connect@condoguys.com
Happy House Hunting!
