Quote:
Originally Posted by Eagle Eye
Was wondering if there are any tax accountants out there who could help me out with the new HST in BC.
My wife and I are looking at purchasing a property in Panorama, and the property is currently in a rental pool. We would likely do a little renovation and then rent the property out our selves.
I am just trying to figure out how much HST I would be paying (after the credits), or if I have to pay it.
Thanks
|
If the place is used, then there is no HST. If the place is new, you pay 12% and then receive a credit based on the purchase price. Renovations are all at 12%. You do not charge HST on rent, so there is no calculation there.