Will I have to pay taxes on the sale of my property when I sell?
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- Advisor: Grant Staley
- Posted on: July 15th 2009
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Business and Professionals
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Yes and No. GST/PST applies on the sale price of new construction, however, on resale purchases, GST/PST applies only on the Commission as it is a taxable service. Also, in some instances, there may be tax deductions in regards to the purchase of a house. Homes containing a business with a transfer of ownership may be subject to income tax.