Increased Capital Gains Tax
Whistler is seeing a massive uprise in listings with the new Capital Gains tax increase that comes into effect on June 25th, 2024.
The 2024 Federal Budget introduced a major legislative change to increase the capital gains inclusion rate:
- from one-half to two-thirds for capital gains realized by corporations and trusts on or after June 25, 2024; and
- from one-half to two-thirds for the portion of capital gains realized by individuals on or after June 25, 2024 in excess of an annual $250,000 threshold. Capital gains below the threshold would continue to benefit from the one-half inclusion rate.
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SELLERS price and timing is everything, if you want to sell and save the extra Capital Gains tax we need to start by analyzing the other listings and placing your price perhaps a bit lower that you would have without the newly increased tax. If you want to sell before the increase lets arrange a time to talk and discuss how we can make this happen for you.
BUYERS, I suggest watching listings that are investment or second properties, I expect to see many price reductions and deals to be had. If you are looking reach out and send me the details of what you are looking to purchase.
WHISTLER INVESTMENT OPPORTUNITY:
Whistler Village North: #304 Cascade Lodge $699,000 - Direction of offer presentation May 31, 2024. Studio with incredible views up both Whistler and Blackcomb Mountains. Property tour for those who are interested and can not make it up to view. Here is a link to the details.
14 units (studio & 1 bedrooms) in The Westin Resort & Spa.(Bare Land Trust sale, meaning No Property Purchase tax): $8,000,000. Here is a link to one of the studios ranging from the 3rd-9th floor and two 1 bedroom suites adjoin to a studio suite.
Amazing top floor quiet forest side Aspens, #413, 1 bedroom suite. $1,399,000. This suite offers peaceful views of the forest with peek a boo views of Blackcomb Mountain and all day sun. Enjoy full time personal use or rent it out when you are not using it, This property is fully equipped and ready to enjoy for our Whistler sanctuary. Here is a link to the details
7 DAY UPDATE:
NEW
SOLD
EXPIRED
PRICE REDUCTION
INCREASE
