Jessica Prasad

• Canada is home to the longest street in the world. Yonge Street in Ontario starts at Lake Ontario, and runs north through Ontario to the Minnesota border, a distance of almost 2000 kilometres.
• Canada has the world’s longest coastline at 202 080 km.
• A bear cub named Winnipeg was exported from Canada to the London Zoo in 1915. A little boy named Christopher Robin Milne loved to visit Winnipeg (or Winnie for short) and his love for the bear cub inspired the stories written by his father, A.A. Milne, about Winnie-the-Pooh.

• The Hotel de Glace in Quebec is built every year using 400 tons of ice and 12 000 tons of snow. Every summer it melts away and every winter it is rebuilt.
• Canada’s only desert in British Columbia is only 15 miles long and is the only desert in the world with a long boardwalk for visitors to walk on.
• Canada contains 9% of the world's renewable water supply.

HAPPY CANADA DAY!

PTT (sometimes called PPT) is a sales tax charged by the BC Government on all transfers of Real Estate in BC.

• The government has announced, effective February 19, 2014, under the Property Transfer Tax (PTT) First-Time Home Buyers’ Exemption program, qualifying first-time buyers can buy a home worth up to $475,000. The previous threshold was $425,000.

• The partial exemption continues and will apply to homes valued between $475,000 and $500,000.

  With this change, the government estimates 1,700 additional first-time buyers will annually be eligible to save up to $7,500 in PTT when they buy their home.

• Further Example: If two people buy a home together, and one is eligible for the First Time Home Buyers Special rate, and one isn't, then tax will be charged proportionately to their ownership share.
• Homeowners who claim the First Time Homebuyers PTT Exemption must live in the home for at least one year after purchasing it.
• All types of real estate pay the same PTT rate, whether the property is used, new, or vacant land.
• The PTT rate is based on 1% of the first $200,000 of price, and 2% thereafter
  (except first time buyers below $475,000).
• Homes are not charged PTT on the HST component of the price, for sales where HST or GST applies.

Looking to Calculate a PTT Exemption?

Check out this great BC... Property Transfer Tax Exemption Calculator!