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When is GST payable?
 
GST is normally due and payable when the real estate transaction is completed. This is usually referred to as the "closing date." In some cases, GST could be payable on transfer of possession.
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For buyers, GST owed on the purchase price of non-exempt property, as well as fees and commissions for professional services, is paid at closing.
For sellers, GST owed on fees and commissions for professional services is also paid at closing.
Your REALTOR can answer your questions about the closing date and GST payments. For additional GST information, contact your local Revenue Canada Tax Services Office.

Whether you're buying or selling a home, the Goods and Services Tax, or GST, will probably apply to the transaction. However, with GST rebates and exemptions, figuring out its impact on your transaction can be confusing. Real estate professionals are familiar with this tax and can help you understand how it works.

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This series of articles is brought to you by A. Mark Argentino and other real estate related resources, including Canadian Real Estate Association CREA and the Ontario Real Estate Association OREA.

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Whether you are interested in a Power of Sale Property, a Foreclosure Sale or a regular property purchase, I can assist you with all of the complexities when you purchase or sell your next property.  Please don't hesitate to email me

If you have any questions or require further information, please send me an email.

Thank you,
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Read about Power of Sale, Bank Sales and Foreclosure Properties FAQ's

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Mississauga MLS Real Estate Properties & MLS.CA Homes for Sale  All Pages including SiteMap, Add URL , Mississauga Real Estate Blog and Guestbook maintained by A. Mark Argentino, Email Mark regarding homes and properties for sale in Mississauga, Erin Mills, Meadowvale, Streetsville,Credit Mills or ChurchillMeadows, Ontario,Canada and surrounding areas : Mark Argentino of REMAX welcomes your inquiry! mark@mississauga4sale.com Copyright © A. Mark Argentino, P.Eng., Broker, RE/MAX Realty Specialists Inc., Brokerage, Mississauga, Ontario, Canada L5M 7A1 (905) 828-3434  First created - Tuesday, July 16th, 1996 at 3:48:41 PM -
Last Update of this website: Tuesday, August 19, 2008 4:36 PM
At this Mississauga, (Erin Mills, Meadowvale, Streetsville, Sawmill Valley, Credit Mills and/or Churchill Meadows) Ontario, Canada Real Estate Property web site you will find relevant information to help you and your family.

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