Question:

In canada is the gst payable when i assume the mortgage on a house?

by Guest21513  |  earlier

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In canada is the gst payable when i assume the mortgage on a house?

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  1. GST is only payable on new construction, resale homes do not have GST applied (below some fairly high limits).

    Since assuming a mortgage implies you are purchasing a home from someone else (resale), there should be no GST on the purchase.

    There will be GST charged on any legal, real estate and other fees charged, however.  The real estate should be paid by the vendor, but you could pay some GST on your own legal fees.

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