Canadian Remote Real Estate Investment Description

There are many families who immigrate to Canada now. In fact, this is also because of Canada's perfect welfare system, which also allows children to enjoy higher education in Canada. How to invest in Canadian real estate also sorted out the instructions for investing in Canadian real estate in different places.

1) Can foreigners without Canadian status only buy the floors of condo's new building?

In Australia, foreigners without local identity can't buy the micro-signal of existing homes: huajuglobal. However, in Canada, there is no such restriction. You can be rich and willful: buy a building if you want, and buy a villa if you want, completely according to your personal preferences.

2) Do people need to be present to buy a house?

In Canada, especially Toronto, buyers do not need to be present whether they buy pre-sale houses or ready-made villas.

3) Does Canadian status have an impact on buying a house?

Canada's attitude towards non-local residents investing in real estate is very relaxed. No matter who you are, no matter where you come from, the right to invest in real estate is the same, and the mortgage interest you enjoy is the same, but the down payment ratio is different.

4) Do you need to prepare a mortgage to buy a house?

In China, after buying a house, the loan started before the house was built. This is not the case in Canada. After buying the building, you only need to pay a deposit. When the mortgage is paid in a few years, it needs to be handled.

5) Who will pay the commission for buying a house?

In Canada, all commissions for selling houses are paid by the seller, and the buyer does not need to pay 1 cent, which is quite different in China.

6) How many years have you owned a house in Canada?

The property rights of Canadian houses are permanent, but you need to pay local taxes every year: because the land is your own! When you buy a house, you also buy the land to build it.

7) What is a "dark disk"?

In Toronto, most properties for sale will be listed on -MLS, the largest local real estate sales system. Occasionally, for special reasons, such as the seller does not want others to know that he is selling a house, or the house is not allowed to be listed in the community, he will not log in to the MLS system. Whether it is a so-called "dark disk" is essentially the same as a "bright disk".

8) How to calculate HST when buying a new house?

When you buy a new house in Toronto, you need to pay the property transaction tax-HST (second-hand house occupied by yourself does not need to pay this fee). In order to facilitate property buyers, uncompleted residential flats developers display the tax-included price (the price that home buyers need to pay) on the price list.

All property buyers with the purpose of pure investment (but excluding foreigners with the purpose of self-occupation, such as China students) are required to pay the HST of the new house withheld by the developer when handing over the house. This part of the tax can be deducted in the next year's tax return.

9) What is a campus?

The concept of campus is very popular in China, and there is also a so-called "campus" concept in Canada. However, Canadian campuses are different from those in China. A good campus in Toronto usually refers to an order obtained by an ordinary public school according to the annual ranking of Fraser College, which has no absolute connection with the real quality of the school. In addition to Fraser College's ranking, many public schools and almost all private schools do not participate in the ranking.

10) How to deal with the profit from selling houses?

There is a lot of room for appreciation of the house, and it is easy to make a big profit by investing in real estate. Do you need to file tax returns? There is no inheritance tax in Canada, and there is no so-called "capital gains tax". Just declare your income normally (and there is a 50% discount). For foreign investors, the tax bureau will send you a certificate of compliance after approval. The certificate will be sent to the seller and the buyer, because if the seller fails to file tax returns, the buyer may be responsible for the taxes owed by the seller.

Calculation method of tax return: the price difference of the house, MINUS all expenses, then divided by 2 to get income, and then reported income tax normally. If you can't get the qualification certificate from the tax bureau, the lawyer will withhold 25% of the house price. If the seller is still not approved within 30 days after the final transaction, the lawyer will hand over the deposit to the IRS and settle it when the seller files tax returns.