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jason dari
Hello, I'll be moving back to Toronto and thinking to buy a one bedroom apartment.Nothing fancy on it just an average small apartment.I'm aware that the apartment owners should pay yearly payments or what you call as fees to the government and my question is how much money will I pay to the government including school tax, garbage tax etc.I'd be very glad if you can help me out
Answer
You don't BUY an apartment. You rent one, usually with a yearly renewable lease. Municipal government (city) taxes, water tax, and garbage tax are usually the responsibility of the owner of the building, not the tenant that rents an apartment in the building. Those costs are included as part of your rent. There should be no provincial or federal taxes imposed.
You would normally be responsible for the school tax, payable to the schoolboard in your area, and the tax will vary depending on the school district. These would normally not be more than $1000 per year, but then again I don't live in Toronto, so not sure exact amounts.
Now if you are referring to a condominium, that's a different story. With that setup, you may be responsible for a portion of the municipal taxes, divided equally among the condo owners. Or it may be included in your condo fees. But again, it varies depending on the building and section of the city you live in. But it's practically impossible to tell you even a rough idea what you might pay because of this variation.
(In case some people are not familiar with this term, a "condo" is kind of like an apartment, but you own your section of the building, and you share costs for expenses to the common parts of the building.)
You don't BUY an apartment. You rent one, usually with a yearly renewable lease. Municipal government (city) taxes, water tax, and garbage tax are usually the responsibility of the owner of the building, not the tenant that rents an apartment in the building. Those costs are included as part of your rent. There should be no provincial or federal taxes imposed.
You would normally be responsible for the school tax, payable to the schoolboard in your area, and the tax will vary depending on the school district. These would normally not be more than $1000 per year, but then again I don't live in Toronto, so not sure exact amounts.
Now if you are referring to a condominium, that's a different story. With that setup, you may be responsible for a portion of the municipal taxes, divided equally among the condo owners. Or it may be included in your condo fees. But again, it varies depending on the building and section of the city you live in. But it's practically impossible to tell you even a rough idea what you might pay because of this variation.
(In case some people are not familiar with this term, a "condo" is kind of like an apartment, but you own your section of the building, and you share costs for expenses to the common parts of the building.)
Small bedroom: home theater system or a nice set of headphones?
What?
I'm planning to complement a 32" in my small bedroom with either a home theater system or a nice set of headphones for a better movie watching experience. The room is extremely small and my planned setup gives me only about 7 feet between where the TV will be mounted and the opposing wall.
Would a HTS be effective enough in such a layout to justify the cost? I like the idea of having one, but would I get better results with a good set of stereo headphones?
Answer
I'd go with the home theater system. Remember that you don't have to buy the best of they best though. Especially if you are putting it in a smaller area. You don't need a 20" sub and a 7.1 surround sound to get a good sound. However, IF you are a music nut like myself, a nice pair of headphones is a must.
I'd go with the home theater system. Remember that you don't have to buy the best of they best though. Especially if you are putting it in a smaller area. You don't need a 20" sub and a 7.1 surround sound to get a good sound. However, IF you are a music nut like myself, a nice pair of headphones is a must.
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Title Post: What are the total governmental fees if I buy a one bedroom apartment?
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