(March 14, 2017)
Recently reported was that the foreign buyer transfer tax will be slightly changed later on this week. International citizens with work permits who pay taxes in BC won't have to pay the foreign buyer surcharge. Further, foreign nationals who were hit with a 15% foreign buyer tax on the real estate, but then months later became Canadian citizens, could get a rebate. No further details from the gove... read more.
(February 14, 2017)
Energy saving mortgages
Home owners with energy efficient homes who get a home energy audit within 90 days of their RBC Energy Saver Mortgage may qualify for a rebate of $300 to their RBC accounts. Learn more at 1-800-769-2511.
Various water saving incentives
Examples include low-flush toilet rebate in certain municipalities. Richmond also offers up to $200 to upgrade washing machines to higher effic... read more
(February 11, 2017)
BC property tax deferment programs
Qualifying home owners aged 55 and older may be eligable to defer propery taxes.
BC Home Owner Grant
Seniors 65 and older, permanently disabled and veterans of certain wars may be granted $275 to reduce property taxes.
Home Adaptations for Independence (HAFI)
This is a program sponsored by the federal and provincial governments to help eligable low income seniors or d... read more
(February 11, 2017)
BC Home Owners Grant
Reduction of property taxes on homes assessed up to $1,200,000. This includes up to $570 on property taxes for home owners' principal residence within the Capital, Greater Vancouver and Fraser Valley regional districts. Additionally, $200 granted to those with rural homes across the province. (Learn more at www2.gov.bc.ca)
First Time Home Buyer's Tax Credit (HBTC)
(January 31, 2017)
This is important when buying a home to check for major issues with the property. Cost is roughly $500-$700.
Depending on if you're able to make a 20 per cent down payment on your home and depending on the lender, some lenders will require an appraisal to make sure you aren't overpaying on that property. This will come out of your pocket.
GST on New Homes