Journal Tag
5 articles tagged "presale-condos" from Rain City Properties.
Assigning a Vancouver presale before completion now triggers three separate tax exposures: GST on the assignment, the BC home flipping tax, and CRA treating your profit as fully taxable business income. Here's the mechanics and the tax math.
Buy a new home in BC and 5% GST lands on top of the price — resale is exempt. The old federal rebate barely touches a Vancouver purchase, but the 2025 first-time buyer rebate can wipe out up to $50,000 of GST. Here's the math, who qualifies, and how it works on a presale.
When you write a presale deposit cheque in BC, your money goes into a brokerage trust account or insured deposit instrument — not the developer's bank account. Here's what BC's Real Estate Development Marketing Act actually requires and what can still go wrong.
BC has two separate buyer-protection windows that get confused all the time — the 3-business-day Home Buyer Rescission Period on resale homes and the 7-day rescission on presale contracts. Here's exactly how each one works in 2026.
Sales are down, listings are up, and presale condos are gathering dust. After years of seller dominance, Vancouver's housing market has tilted decisively toward balance. Here is what I am seeing on the ground and where I think it goes from here.