Under the C-8 Act, the Government has implemented a 1% annual tax on the fair market value of “underused residential property” owned by non-resident, non-Canadians. For instance, a home bought for $1,700,000 in 2018 with a current fair market value of $2,000,000 will incur a $20,000 tax.
How to Register for GST and QST
Who Must Register for GST and QST? If you’re an entrepreneur, freelancer, or corporation carrying out commercial activities in Québec, you are generally required to register for GST and QST. Registration becomes mandatory in the following situations: You must register if: You must register regardless of your sales volume if you: When to Register? QST…