BC Real Estate Trading Services Licensing Exam Practice · Question
GST generally applies to which type of residential sale in BC?
GST applies to new/substantially renovated residential property; most used residential resales are exempt.
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Question: GST generally applies to which type of residential sale in BC?
Answer options: ✅ Newly constructed or substantially renovated homes
- All resale homes
- Strata resales only
- Rural land only
Correct answer: Newly constructed or substantially renovated homes
Explanation: GST applies to new/substantially renovated residential property; most used residential resales are exempt.
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Question explanations
- A developer, Grandview Developments Ltd., plans to build a new condominium project in Kelowna. They register a
- Michael, a real estate licensee, is assisting his client Jane in purchasing a commercial property at 123 Main
- A buyer, David, has entered into a Contract of Purchase and Sale for a vacant lot in Tofino. David's lawyer di
- Maria is purchasing a unit in a newly constructed strata building in Squamish. Her real estate licensee, Ken,
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