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When could GST be payable on a Resale?

Blog by Diane Cardoso | March 15th, 2016

Do I have to pay GST on a re-sale unit that has never been occupied? Most people don’t know this, but if the unit has been left unoccupied, it is still considered new upon resale of the unit. The federal government considers this transaction a transfer of unoccupied inventory from one developer to another, so GST would be payable upon the resale transaction. So if you are writing an offer on this type of home, make sure you are protected in your contract. For more details, just give me a call.