Question:

What purchase tax is payable on property?

by Guest795  |  6 years, 7 month(s) ago

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What purchase tax is payable on property?

 Tags: payable, property, purchase, tax

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  1. Guest796

     GST (federal goods and services tax) is required on the purchase of all goods in Canada, including newly constructed real estate, and is 5% of the purchase price. In Alberta, there are no further purchase taxes, but in all other Canadian provinces there is an additional HST component which adds 12-14% to the purchase price of a home. In Alberta this tax does not exist, giving Alberta the lowest purchase tax rate in Canada, in addition to very low annual property tax rates and the lowest personal and corporate tax rates in Canada. There are no stamp duties in Alberta. 

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