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chuck2005
Real Estate Talker
Topic Author
Posts: 38
Joined: Sun Jun 26, 2005 10:25 am

paying GST on new condo

Sun Nov 27, 2016 11:57 am

It drives me nuts to think about paying GST on a new condo that I want.  Any suggested strategies? Advice? Reflections?  Just do it and stop crying?
It would be my primary residence and it's 550K.
Last edited by chuck2005 on Sun Nov 27, 2016 7:13 pm, edited 1 time in total.
 
westcoastfella
Real Estate Talker
Posts: 1582
Joined: Fri Mar 23, 2007 8:11 am

Re: paying GST on now condo

Sun Nov 27, 2016 1:18 pm

You pay GST on nearly everything you buy, why does it make you nuts to do so on a new condo?

You could always try to negotiate a lower price on the condo, in order to offset the additional amount you'll have to pay in GST (you will still have to pay the GST, but the overall amount you pay would be lower).  You could also avoid the tax entirely by not buying a new condo, there are lots of tax free used condos on the market.

However, if you must have new, then you'll need to stop crying and suck it up.  Along with PTT, and annual property taxes, its just one of the costs of owning.

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