If you are a real estate investor, or someone looking to purchase a cottage in Nova Scotia, be careful because as of TODAY the province of Nova Scotia has increased the deed transfer tax for non-residents from 5% to 10% of the total purchase price.
THIS IS AN ADDITIONAL EXPENSE ON TOP OF THE DEED TRANSFER TAX CHARGED BY INDIVIDUAL MUNICIPALITIES IN NOVA SCOTIA.
What does this mean?
If Halifax charges 1.5% deed transfer tax for a purchase of a property, a non resident purchasing a property will be charged an additional 10% making it 11.5% total paid out to purchase that property for the non-resident.
Any quesitons, let met know!
Jason Paul
902-220-7357
jason@infinityrealestategroup.ca
