Here is a checklist to ensure that the ownership of the property transitions smoothly.
Apply for service to be issued in your name or transferred from your current property on the possession date. Contact BC Hydro at 1 800 224-9376 or visit bchydro.com.
You can contact Shaw Cable/Internet at 604 932 1111
Telus Cable/Phone/Internet – 604 310 2255
Strata Maintenance Fees
Payable automatic monthly debits from your bank account or through your property manager on your behalf.
Tourism Whistler Fees
These are yearly fees depending on your use of the unit (rental, personal or combined). You can contact Tourism Whistler at (604) 932-3928 to set up automatic monthly debits from your bank account or through your property manager on your behalf.
Water bill and property taxes are due on July 1st each year, the bill will mailed to the address shown on the title to the property in June. Make sure you get the tax bill from the previous owner if you purchase a property between March & June. If the taxes are not paid by the due date, there will be a penalty. There is a grant available through the Municipality if the property is your principal residence. The Municipal tax office can be contacted at (604) 932-5535. You can also request monthly installments for property tax payment rather than a lump sum yearly.
Most lenders will set up automatic monthly debits from your bank account and will include payment for your property taxes at your request.
Make arrangements with an accountant to file your annual Canadian tax returns for the property. Returns for the year ending December 31 are due by April 30.
Confirm with your property manager if they are collecting and remitting the GST on your behalf. You will need to file an annual GST return with Canada Customs and Revenue Agency (CCRA) to verify the returns made by your property manager. At this time you may also claim any GST input tax credits such as GST paid on legal fees or property management fees.
Confirm with property & strata managers what insurance coverage is in place and what you will need to purchase (usually liability & content insurance)
Discuss what bills they will pay on your behalf and what you will be responsible for.
Booking Personal Use
Review rental management agreement for booking personal use of the unit.
Open account and arrange automatic withdrawals of required payments (mortgage, strata fees, property taxes, Tourism Whistler fees). Provide details of the account to your property manager so they may deposit revenue.
Non Resident Withholding Tax
Minimize the non-resident withholding tax by completing an NR6 form and submitting it to Canada Customs and Revenue Agency (CCRA). Discuss with your property manager whether they will assist you with the completion of an NR6, if not contact an accountant.
If you wish to furnish your recreational property with items from your home outside Canada, you should contact Canada Customs to determine their requirements to avoid paying duty (usually one shipment is allowed). You will have to provide proof at the border of your recent purchase of the real estate. The purchase document required is the registered Form A Transfer available from your lawyer.