My question is: Canadian-specific
QUESTION: I live in Ontario and am thinking of buying
a newly constructed condo as an investment property in Montreal.
Do I have to pay the GST/HST on this purchase
if I intend to rent this property ?
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david ingram replies:
A new residential condo has a GST bill that you cannot get out of.
Don't feel too bad though. Although it seems an eternity away, The 7% GST replaced an old 9% FST which used to be included in the prchase price of the materials. the base prices of Condos are a little cheaper because there is no FST.
With the GST rebate, the net price is not that different although 13 years later, no one remembers.
david ingram
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