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GST + PST 6: 11 The 6% rate is effective for goods and services effective March 23, 2017. [15] Effective April 1, 2017, New Homes, restaurant meals and other prepared food and beverages are subject to PST. [16] There is a separate 10% liquor consumption tax. PST is not applicable for any exempt business in Lloydminster. Yukon: GST: 0: 5
The goods and services tax [1] (GST; French: Taxe sur les produits et services) is a value added tax introduced in Canada on January 1, 1991, by the government of Prime Minister Brian Mulroney. The GST, which is administered by Canada Revenue Agency (CRA), replaced a previous hidden 13.5% manufacturers' sales tax (MST).
In 1996, three of the four Atlantic provinces—New Brunswick, Newfoundland and Labrador, and Nova Scotia—entered into an agreement with the Government of Canada to implement what was initially termed the "blended sales tax" (renamed to "harmonized sales tax") which would combine the 7% federal GST with the provincial sales taxes of those provinces; as part of this project, the PST portion ...
The buying and selling of property is normally done through a real estate agent who work on a financial commission and act as a broker between buyer and seller. As well as brokers, the sale of property can be done with the aid of a lawyers (commercial sales), notaries (Quebec), surveyors, title insurers or third party consultants. [2]
When a good or service is not subject to PST, a specific exemption in the legislation is not needed. Similar to the old PST, the following are not taxable under the new PST: the sales of real property such as residential housing or commercial real estate; admissions, registrations, and memberships; professional services (other than legal services); and transportation fares (e.g. bus, train ...
Established in 1997, the Real Estate Council of Ontario is a not-for-profit corporation that regulates the trade of real estate in Ontario in the public interest. On behalf of the Government of Ontario , it administers and enforces the Real Estate and Business Brokers Act , 2002 and its regulations.
The GST replaced the hidden 13.5% manufacturers' sales tax (MST). [9]: 7–8 On 1 July 2006, Prime Minister Stephen Harper's government reduced the general federal sales tax (GST) to 6%, and on 1 January 2008, Harper's government further reduced the GST to 5%.
The Toronto Regional Real Estate Board (TRREB), formerly the Toronto Real Estate Board (TREB), is a non-profit professional association of registered real estate brokers and salespeople in and about the Greater Toronto Area. [1] TRREB's Toronto office is located at 1400 Don Mills Road. [2]
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