Mark Purdy: Get a 1 year lease.
Mark Purdy: Guaranteeing your return on investment.
What happens is, the first.2 of the HST is built in to the price and the builders paying that.
Mark Purdy: When they ask the question, are you living there?
12) HST on assignments/flip sales Inevitably, an offer to purchase an assignment (often on an orea form 150 ) by a buyer will state that, if applicable, HST is included in the purchase price (as we typically see in any offer to buy resale residential.Since then, weve never looked back.The problem for a layman is, youre presented with these 3 documents, 3 forms and all these other forms that youve got to complete and add in, and these mathematical calculations that youve got to make, which arent really that bad.Andrew la Fleur: Im going to just pepper you now with various questions.
Once again, for all the show notes on this episode, just head on over to m/rebate.
If youve taken on a substantial renovation, such as adding a new addition to your home or gutting your home, you could be eligible for an HST renovation tax rebate provided by the federal government.
CRA comes up with the market value based on market research, there is not much you can do to dispute.Mark Purdy: Of course what gumtree freebies furniture perth were seeing is that 70, 75 of these cases, Revenue Canada is sending them a letter saying, You owe us this money back.How much will I get back?Some cities, such as Toronto, Montreal and Vancouver, are buoyed with foreign investors, which in some cases has driven housing prices higher.Andrew la Fleur: Even though your business was as a tax consultant.On closing, we found out that we had to pay HST.This is why its always good to spend under your budget and give yourself a little breathing room.To qualify for recovery of such rebate, the investor must own the unit for at least one year and reasonably expect to rent the unit to the initial tenant for one year. .Its part of the HST program.