Assignment Objectives: Understand the basics of GST/HST and its application in real estate transactions. Explore the concept of property tax and its significance for property owners. Analyze how GST/HST and property tax affect individuals and businesses involved in real estate. Assignment Tasks: Task 1: GST/HST Overview Research and summarize the basic principles of Goods and Services Tax (GST) and Harmonized Sales Tax (HST). Explain the difference between GST and HST, including which provinces implement HST. Provide examples of goods and services that are subject to GST/HST. 16:43 % mykcc.ca/assessment-te . till ill 79% + :D Explore the concept of property tax and its significance for property owners. Analyze how GST/HST and property tax affect individuals and businesses involved in real estate. Assignment Tasks: Task 1: GST/HST Overview Research and summarize the basic principles of Goods and Services Tax (GST) and Harmonized Sales Tax (HST). Explain the difference between GST and HST, including which provinces implement HST. Provide examples of goods and services that are subject to GST/HST. Task 2: GST/HST in Real Estate Describe how GST/HST applies to real estate transactions, including the sale of residential and commercial properties. Explain any exemptions or special rules related to GST/HST in real estate transactions. Discuss the implications of GST/HST for both buyers and sellers in real estate transactions. Task 3: Property Tax Overview ||| 16:43 mykcc.ca/assessment-te till ill 79% + :D Task 2: GST/HST in Real Estate Describe how GST/HST applies to real estate transactions, including the sale of residential and commercial properties. Explain any exemptions or special rules related to GST/HST in real estate transactions. Discuss the implications of GST/HST for both buyers and sellers in real estate transactions. Task 3: Property Tax Overview Define property tax and explain how it is calculated. Describe the factors that influence property tax assessments. Discuss the purposes of property tax and how it is used by local governments. Task 4: Property Tax and Real Estate Explore the relationship between property tax and real estate ownership. Explain how property tax payments are determined for residential and commercial properties. Discuss the impact of property tax on property values and real estate investment decisions. ||| 16:43 % mykcc.ca/assessment-te ownership. till ill 79% + :D Explain how property tax payments are determined for residential and commercial properties. Discuss the impact of property tax on property values and real estate investment decisions. Task 5: Case Study Analysis . . Analyze a hypothetical real estate transaction involving the purchase of a commercial property. Identify the potential GST/HST implications for both the buyer and the seller. Discuss the property tax considerations that the buyer should take into account before completing the transaction. Assignment Deliverables: Written report covering Task 1 to Task 4 (approximately 800-1000 words). Case study analysis addressing Task 5 (approximately 300-500 words). Any additional diagrams, charts, or tables to support your explanations (optional). Note: Ensure to cite any sources used for your research according to the required citation style (e.g., APA, MLA). |||