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25 April 2010
BC HST: How it applies to homes
On July 1, 2010 HST - a combination of the 7% Provincial Sales Tax (“PST”) and the 5% federal Goods and Services Tax (“GST”) - will become effective. If you are thinking of buying or selling a home in British Columbia you are certainly Read More...
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24 April 2010
Buying Abbotsford Tax Sale Properties....
Someone called me last week and asked about properties being sold by City of Abbotsford because of tax deliquency. Here is some basic information for all of you who are curious about tax sales. The City is required by the Local Government Act to sell, Read More...
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18 April 2010
Calculating BC Property Transfer Tax
When you purchase real estate in British Columbia the amount of the Property Transfer Tax payable is 1% on the first $200,000 of the property's fair market value and 2% on the remaining fair market value. The tax is calculated on the selling price Read More...
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26 August 2009
Speak out against HST on new home sales & real estate services in BC
Last month when BC govt. announced the plans to implement new tax system HST (harmonized sales tax) in 2010, I wrote a blog post about how it would affect the real estate industry and new home buyers. Just like me most other REALTORS® are concerned Read More...
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31 July 2009
What HST means for BC real estate
The BC government announced on July 23, 2009 that effective July 1, 2010, BC will adopt the HST, combining BC's seven per cent PST with the five per cent federal GST for a single "harmonized sales tax" of 12 per cent. Starting next July, Read More...
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11 June 2009
Claim Your Homeowner Grant Before July 2nd
Property taxes notices are here and due date is coming soon. If you are eligible for the Home Owner Grant you must apply for it by the due date. If you are a permanent resident of the Province you qualify for the basic homeowner grant on your principal Read More...
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28 January 2009
Budget 2009 Highlights For Housing Market
The federal budget released for 2009 contains a few items of interest to homeowners and people who are thinking about buying a home. Here are some highlights: RRSP Home Buyers' Plan: Starting from January 28, 2009, first-time home buyers can withdraw Read More...
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09 May 2008
Property Taxes Are Coming
Its tax time again. Your property tax notices for 2008 will be coming this month. Payments and completed Home Owner Grant applications, if applicable, must be received by the City of Abbotsford by 5:00 PM on July 2. If you fail to pay your property tax Read More...
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27 February 2008
TFSA - The Piggy Bank For Grownups.
The new " tax free savings account " plan announced in the federal budget is either revolutionary or better than nothing depending on who you ask. Some are calling it the biggest thing since the introduction of RRSPs. Because I am in the business Read More...
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20 February 2008
What meaner greener BC budget means for homeowners
The government of British Columbia introduced its "green" budget yesterday with the introduction of a new carbon tax, the first of its kind in Canada. We all know that it is going to get more expensive to drive when the new tax is implemented Read More...
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