June 2021

GST and The Sale of Real Estate 

Posted on Jun 18, 2021

GST and other tax structures are extremely complex, especially in the sale of real estate. Real estate deals can require GST, PTT and additional PTT (foreign buyer’s tax), vacancy tax, speculation tax, taxes on commissions and legal fees and on other services.

GST Basics

Under the Federal Excise Tax Act (ETA), the sale of real property is a taxable...

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Choosing The Best Offer

Posted on Jun 14, 2021 in Tips & Advice

Receiving Multiple Offers

There are plenty of advantages to listing your home in a seller's market, where limited inventory and plenty of buyers are competing to buy your home. Depending on the appeal, list price and exposure of your property, this type of market can create a situation where multiple buyers submit an offer at the same time, potentia...

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Posted on Jun 08, 2021

Federal money laundering and anti-terrorist financing rules require real estate agents and brokers to collect personal identification information from buyers and sellers.

It is the federal Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) that requires financial institutions and real estate agents, among other professionals...

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