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Noteworthy 2019 Tax Changes

Noteworthy 2019 Tax Changes

Additional School Tax on High-Valued Residential Properties (Effective 2019)

  • 0.2% on residential portion between 3 and 4 million
  • 0.4% on residential portion over 4 million

Property Transfer Tax

  • 1% First $ 200,000
  • 2% $ 200,000 to $ 2,000,000
  • 3% Portion over $ 2,000,000
  • Additional 2% Portion over $ 3,000,000 (Effective February 21, 2018)

Additional Property Transfer Tax on Foreign Entities

  • Before February 21, 2018: 15%
  • On or after February 21, 2018: 20%

PST on Vehicle

  • 7% Less than $ 55,000
  • 8% $55,000 to $56,000
  • 9% $56,000 to $57,000
  • 10% $57,000 to $125,000
  • 15% $125,000 to $150,000
  • 20% $150,000 and over

PST on Parking (Effective July 1, 2019)

24% (21% Prior)

Newsletter 2021 Employer Health Tax for Employers Excluding Charitable and Non-Profit Employers