Hani Faraj - Buyer Package March 27
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Foreign <strong>Buyer</strong> Tax<br />
Aug. 2 nd , 2016, a 15-per-cent tax took effect for home purchases in the Metro Vancouver<br />
area involving foreigners. The basic property transfer tax ranging from 1%-3% should<br />
be paid along with the 15% additional tax.<br />
If you’re a foreign national or foreign corporation and the residential property is located<br />
in the Greater Vancouver Regional District, you also pay the 15% additional property<br />
transfer tax on the fair market value of your proportionate share.<br />
Try the Property transfer tax calculator to estimate what you owe based on the fair market<br />
value of your property. https://forms.gov.bc.ca/taxes/estimate-your-propertytransfer-taxes/<br />
Note: The calculator doesn't estimate the additional property transfer tax on residential<br />
property transfers to foreign entities.<br />
Source:<br />
http://www2.gov.bc.ca/assets/gov/taxes/property-taxes/property-transfer-tax/formspublications/is-006-additional-property-transfer-tax-foreign-entitiesvancouver.pdf
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