Chapter 19

Question 1

Exemption

Answer 1

Self supply rule builder or tenant moved into a new billing seller pays a GST and cannot charge the buyer later

Question 2

Which of the following statements is false regarding the sellers obligation surrounding GST in a transaction for the real estate

Answer 2

If the seller receives an assessment from the Canada revenue agency for the amount of the GST after feeling to collect it from the buyer the seller has lost his or her ability to shoot the buyer for the amount of the taxes and will be held fully liable for them now

Question 3

Which of the following statements about the property transfer tax is true

Answer 3

The PTT applies to any transfer of interest in real property is registered at the land title office unless the transfer can rely on exception of TTT

Question 4

Which of the following statements were regarding the additional property transfer tax foreign buyers taxes correct

Answer 4

The form bar tax may apply to the purchaser of residential property by a corporation that is incorporated in Canada but I controlled by a foreign national

Question 5

Which of the following statements regarding the speculation and vacancy tax is true

Answer 5

SVT is payable by owner of residential properties located in Designated taxable regions of BC unless the owner qualifies for an exemption

Question 6

Who applies for column B for home order Grant

Answer 6

Only the owner occupier of the property can apply

Question 7

An appeal on a point of law regarding a real property assessment value can be made from the property assessment appeal board directly to the

Answer 7

BC Supreme Court