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August 2/16 - New Tax Foreign Entity land purchase

Blog by Diane Cardoso | August 2nd, 2016

Here are the definitions of a "Foreign Entity" under the new Provincial Property Transfer Tax Law as of August 2, 2016: A Foreign Entity is a foreign national, foreign corporation or taxable trustees. The 15% property tax on "foreign entities" is in addition to the general property transfer tax and applies to properties being registered in the Metro Vancouver area only, and excludes Tsawwassen lands.