Taxes & Closing Costs when Buying Real Estate in Victoria

Taxes:

Property Transfer Tax - LINK 

GST ( only applicable on new purchases) - LINK

Foreign Buyer Tax - LINK 

Foreign Buyer Ban Area - LINK

Speculation Tax / Vacancy Tax - LINK

Closing Costs:

Legal Fees

Inspection

Mortgage Associated Costs 

Appraisal

Property Transfer Tax

NOTES:

FOR AIR BNB RULES LINK

Program For First Time Buyers:

SAVE ON TRANSFER TAX - LINK

CRD PROGRAM - LINK

LANGFORD PROGRAM - LINK

Hi everyone, please find some costs associated with buying a home in Victoria, British Columbia. Some costs are minimal and some costs can be greater. It all depends on each purchase. 

Please contact me and I can recommend some professional lawyers and accountants that may be able to assist you with your questions.

Thank you, 

Shirin Purewal