Forma condo sales office. Sales of big houses fell by 14%. The Globe and Mail of Canada reported on April 15 that as a result of the epidemic, Canadian home sales fell 14% in March.Please Visit: Forma condo sales office to Get Your VVIP Registration Today!
According to the Canadian Real Estate Association, 41151 homes were sold in March, compared with 48240 in February, with activity in Toronto, Montreal, Vancouver and other large Canadian markets falling sharply.
Sales began to plummet in the second half of March when Ottawa and local governments restricted activities and urged Canadians to stay at home.
The number of new homes on the market fell 12.5% in March compared with February. Preliminary data from the first week of April show that sales and new listings are only about half of the normal period, the association said.
If you sell domestic real estate after naturalization, if you do not return to China in person, you should prepare a power of attorney to entrust domestic people to sell the house, take this power of attorney to find a lawyer for notarization, and then take the lawyer’s fair power of attorney to Canada for local certification, and finally take this certificate to the Chinese embassy to be notarized. The tax rates and handling fees for foreigners buying and selling houses in China are the same as those for domestic residents. If I return home to sell the house, the domestic ID card has not been cancelled is still valid and convenient. However, if there are valid documents in the country, the sale of the house can still be carried out normally, and there is no difference between the procedure and the ordinary Chinese to sell the house. The only problem is to prove that you are the owner of the house. That is, Chinese Zhang San is Canadian Zhang San.
Generally speaking, this is not a formal procedure, but requires “proof”. In most parts of the country, the public security organ where the household registration is located is responsible for identifying the identity of the parties before and after, and then the real estate department confirms the ownership of the house through the certificate of the public security department. However, this is only a general method, and it does not mean that it is implemented in every part of the country. The specific situation still depends on the specific conditions of various localities.
In addition, when selling a house, some netizens list the following experiences for reference:
1. The content and format of the power of attorney should consult the Housing Administration of the place where the house is located, the bank (if it involves a buyer’s loan to buy a house) and the Local Taxation Bureau have any requirements, if there are no special requirements, you can directly use the power of attorney model.
two。. The number of copies of the power of attorney should be made clear, and some departments admit that the photocopies are not good, so they must be done at once, so as to avoid wasting time or wasting money.
3. In some places, although the property certificate is a person’s name, the spouse is required to agree when selling the house, which should be reflected in the power of attorney.
Last but not least, do you have to pay tax on the proceeds from the sale of the house in Canada? This depends on the specific situation, the key depends on whether the house sold belongs to the main residence.
When the house is vacant or used by the family, it does not fall within the scope of overseas assets declaration and does not need to be declared on the tax return. Only this apartment needs to be declared when it is sold, because it will increase the value of assets.
The specific algorithm of Canadian real estate capital appreciation tax is: real estate sale price-real estate purchase price-various fees (lawyer fees, land transfer fees, real estate brokerage fees, etc.) = real estate appreciation price. Among them, half of the value-added price of the property is subject to tax, which is about 25% of its price.
However, we know that the sale of major homes in Canada is tax-free. Therefore, if the house in the country is declared as the main residence, you can enjoy the right of exemption from the main residence, and the property in the country may also become the main residence in the sense of taxation in Canada. The value-added part is not taxable, and there is no tax impact. However, Canadian law requires that from 2016, as long as the sale of the main residence, regardless of whether there are taxes to be paid or not, they are required to declare.