Operating Costs, GST and Taxes.The purchase of any property in BC is subject to Property Purchase Tax (or land title registration fee) New home construction is subject to GST. Once purchased there will be operating costs. Operating Costs.. The exteriors and landscaping of Paddlewheel Villas were designed be aseptically pleasing yet low maintenance. The developer has invested considerably in superior materials so that owners can enjoy relative little exterior maintenance. Strata fees will be $231.67 per month and will generally include; exterior building maintenance, grounds maintenance, beach and dock maintenance, snow removal, common lighting, as well as building and liability insurance. Owners will be responsible for the maintenance of the interior of their own units as well as their own services and utilities such as gas, hydro, sewer, water, phone cable, etc. Property Purchase Tax.. British Columbia is subject to a provincial property purchase tax (or the land title registration fee) of 1% on the first 200,000 and 2% on the balance of the purchase price. Tax (or the land title registrastion fee) on $600,000 will be $10,000, tax on $700,000 will be $12,000. GST.. 7% GST is payable on new home construction. No homeowner's grant or exemption will apply on your Paddlewheel Villa unit due to both the sale price of the units and the non-principal residence status. GST is a confusing issue and buyers are strongly encouraged to obtain independent legal and tax advice regarding their own personal situation and desired form of ownership however we anticipate owners who purchase corporately, or owners who may choose to rent their units and become GST registrants will likely do a GST flow-through. Property Taxes.. Each owner will be responsible for their own municipal property taxes. As the units are under construction and not yet assessed taxes are not available. Taxes will be based on the commercial tax rates. |
Home | Overview | Artist's Renderings | Location | Floorplans | Design & Layout | 4 Season Playground | Waterfront Fractional Ownership | Zoning & 180 Day Rule | Strata Bylaws | Rentals | Operating Costs & Taxes | Meet the Builder Construction & Warranty | Photo Library | Disclosure Statement | Pricing & Sales |