- Joined
- Jan 9, 2008
- Messages
- 196
Three investors, one a contractor, build a house.
Two investors pay contractor`s company for materials, contractor does the work outside of the company using his labor as his share of the jv... contractor wants to use the house as a principle residence so he can not pay capital gains.
Realtor wants to know if the GST has been paid on the new house or will she have to collect it from the future buyer.
If new house is called preowned, then no GST needs to be collected from a new buyer.
Two investors pay contractor`s company for materials, contractor does the work outside of the company using his labor as his share of the jv... contractor wants to use the house as a principle residence so he can not pay capital gains.
Realtor wants to know if the GST has been paid on the new house or will she have to collect it from the future buyer.
If new house is called preowned, then no GST needs to be collected from a new buyer.