Is GST Charged on the Brokerage Fee?

By
Real Estate Sales Representative with CIR Realty - Condo Specialist RW-0611515
https://activerain.com/droplet/HX

Is GST Charged on the Brokerage Fee?

Canadian Flag over the Parliment Building

 

 

In Canada, GST is charge on all goods and services.  The rate is  5% of the invoice amount. Since the brokerage fee is for real estate services supplied, it is subject to GST.     To demonstrate, if your brokerage fee is $5000, the GST which will be deducted from your sale proceeds in addition to the brokerage fee would be $250.00 for a total of $5250.00.

 

 

 

Posted by

In Calgary, call Joel Guillim

Associate - REALTOR®
Chairman's Platinum Award
CIR Realty - Calgary, Alberta
Canada 

https://homeofcalgarycondos.com/

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Rainer
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Tish Lloyd
BlueCoast Realty Corporation - Wilmington, NC
Broker - Wilmington NC and Surrounding Beaches

Goodness, but what a pain in the neck -- taxes, taxes, and more taxes.

Jan 08, 2011 01:23 PM #1
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Rainer
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Joel Gwillim

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