In Canada, how much tax do I have to pay if I want to give my house to my children?

In Canada, the transfer fee for giving a house to a child is generally 1-2%, and the difference between the property to be sold in the future and the property purchased in the current year is subject to VAT.

But there are ways to save money.

There are two ways to register real estate in Canada: * * joint lease and tenant co-ownership. * * * If one party dies, the other party will automatically inherit. Each joint name holds its own proportion, according to its own meaning.

If you want to leave it to your children, it is best to choose that both husband and wife are * * * when registering, and the other party will automatically acquire property rights after one party dies, and then add the name of the child to the "house owner". In the future, children can naturally inherit without paying taxes.

* * * For new immigrant couples who have already registered their property rights, the children are still very young when they buy a house, and they don't consider many things in the future at all, so the children's names are generally not on the property rights registration documents. Once both husband and wife die, assets such as real estate will be regarded as inheritance and left to children, and inheritance tax is inevitable. Therefore, it is the most economical to choose the right time to add names to children.