Do you pay land transfer tax in Ontario when buying a new home?
Indeed you do. The land is first owned by the developer, when you take possession of the land & house the land ownership is transferred to the buyer, complete with a title search.
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Answer . Just sales tax. There is also registration and most (99.9999) dealers will have a conveyance fee for somewhere between 50 and 700 dollars.
No. Virtually everywhere real estate is not sales taxable. There are frequently other taxes specifically tied to real property sales -generally geared to the transfer of …the title, but they are much lower percentages than sales tax. And you can expect some other fees again generally for recording paperwork or a specific charge - but also normally modest.
A local realtor can help you.
In Canada you do. -If you are in US,consult your local realtors for this answer.
In my state there is no sales tax on a home sale.
Who knows cos I don't AND why do you care?
In some states you do have to pay the sales tax on the purchase of a used mobile home.
In many states including Virginia, you do not pay simple "SALES TAX" when you by a car. There is a special TAX, usually less, called USE TAX which is charged against the sale …of the car. One viewpoint on this concept of "USE tax" is that you shouldn't have to pay SALES tax on things that incur a yearly property tax, like a home. This "SALES tax on cars" behavior is known as double-dipping and many states do it; and is viewed as a despicable practice.
Realty Transfer Tax Levied on the sale or transfer of Real Estate located in Philadelphia . Tax Payment Options and Information . Tax Resources Resources from the Departm…ent of Revenue. . Use & Occupancy Tax (U&O) The Business Use and Occupancy Tax is a tax on the business, trade or other commercial use and occupancy of real estate located in Philadelphia. The Realty Transfer Tax is levied on the sale or transfer of Real Estate located in Philadelphia. The tax also applies to the sale or transfer of an interest in a corporation or partnership that owns real estate. Certain long term leases are also subject to this tax.
The sales tax can be paid to the dealer when purchasing a new car, and is usually factored into the total dollar amount that you give to the dealer before driving your new car… off the showroom floor.
When you purchased your home you probably paid settlement or closing costs in addition to the contract price. You can deduct home mortgage interest, points, and certain real e…state tax on your tax return. Review your paperwork from your title insurance company and mortgage company which will show any real estate taxes paid. To answer your question, NO.
i don't know but i do know tht a lot of men pay a lot of money for sex,like john terry and Wayne Rooney :/
That would depend directly on the jurisdiction or State or Province you are in. -It always helps to state your location in questions like this. For now, with this limited …information, I can only say - ask the local City or State/Province about any tax issues.
By state law, only the seller/retailer has to pay the sales tax, not the consumer. ans The above is not just wrong, but even sort of crazy. There actually isn't a "…sales tax", it is called an excise tax. Cars are subject to this sales tax (regardless of what you wan to call it), just like anything else. Except it is collected by the MVC when you title/register it not the seller. UNLESS the seller is a registered dealer (who conventionally also handles all the title matters too), and then HE collects the tax to pay over to the MVC. Excise tax is assessed upon each transfer of vehicle, boat or outboard motor ownership, unless specifically exempted by law. . Excise tax is collected at the time of issuance of the new Oklahoma title. . Oklahoma residents are subject to Oklahoma excise tax on vehicles purchased in another state. . Nonresidents who purchase vehicles in Oklahoma are not assessed Oklahoma excise tax, provided they title and register the vehicle in their state of residence. Most vehicles are assessed excise tax on the basis of their purchase price, provided that purchase price is within 20% of the average retail value for that specific model vehicle. If the purchase price provided is not within that 20% range, a taxable value within that range is established for excise tax assessment purposes. . The purchase price may include a deduction for any dealer rebates or discounts. . The purchase price may not include a deduction for any traded in vehicle. . For new vehicles, a copy of the purchase agreement or bill of sale from the dealer is required. . For used vehicles, either purchase price listed in assignment portion of conforming title certificate, a copy of a bill of sale or purchase agreement, or a notarized Declaration of Vehicle Purchase Price (Form 722-1 available for downloading from the Forms section of this site) is required. . Please note, in establishing an average retail value for the purpose of assessing vehicle excise tax, Oklahoma law makes no provision for adjusting the value of a vehicle due to that specific vehicle's condition - be that condition above or below average. An average value for all such model vehicles is utilized.. Standard vehicle excise tax is assessed as follows: . New Vehicle: 3.25% of the purchase price (or taxable value, if different) . Used Vehicle: $20.00 on the 1 st $1500.00 of value + 3.25% of the remainder Excise tax on boats and outboard motors is based on the manufacturer's original retail selling price of the unit. Boat/outboard motor excise tax is assessed as follows: . New Boat/motor: 3.25% of the manufacturer's original retail selling price . Used Boat/motor: For each subsequent year of age, the taxable value is decreased 35% Excise tax on manufactured homes is based on the actual purchase price/current value of the home and is assessed in the following manner: . New Manufactured Home: 3.25% of Â½ the actual purchase price/current value . Used Manufactured Home: 3.25% of 65% of Â½ the actual purchase price/current value Excise tax on new and used all terrain vehicles, utility vehicles, and off road motorcycles is 4.5% of the actual purchase price with a minimum of $5.00.
In Home Buying
Typically the seller will, however in real estate anything is negotiable. The real estate broker or other person responsible for the closing estimates the annual real estate t…axes for the subject property being sold. The seller is responsible for the real estate taxes from January 1 through the day before closing. The buyer is responsible for real estate taxes as of the day of closing through the end of the year. Real estate taxes are generally estimated and prorated on a calendar year basis. At closing both the buyer and the seller receive a copy of the settlement sheet that, among other things, shows debts and credits for real estate taxes. If, at the end of the tax year, the estimated taxes were substantially inaccurate, the party that underpaid for their portion of the prorated year can be asked to contribute to the party that overpaid.
sales tax for title, as well as your tags this includes road and bridge ect, title and license plate
Yes, you do, but they are usually quite small.