Taxes Tab

Taxing Authority - If you conduct a title search, the taxing authority will be populated for you. If there is a match in our public library for the taxing authority, the address, phone and fax fields will also be populated for you. If you have entered your property manually, you may click the blue link to look up the Taxing Authority in the library, or you may enter the appriopriate information by typing directly into the fields.

Obtain Tax Search Through BC OnLine - Click this link if you wish to obtain a tax search through BC OnLine.  This link will take you directly to BC OnLine's Tax Certificates Online in a separate window. Once obtained, you can quickly return to your econveyance window and enter the appropriate information.

Tax Roll Number - Enter the tax roll  number or account number noted on the tax search.

Tax Adjustment Year - This field will default to the current year. If you need to make a tax adjustment for taxes for a year other than the current year, enter the required year in this field. 

Gross Tax Amount - Enter the amount of the gross taxes as shown on the tax search. Note: Do not enter comas or dollar signs.

Home Owner Grant Amount - Enter the amount of the home owner grant, if applicable.

Taxes Paid - Select this option if the taxes have been paid. The system will debit and credit the appropriate parties based upon this option.

Adjustment Date - The adjustment date entered on the Transaction Screen is displayed here for your reference. You can enter or change the adjustment date from this field if required.

Estimate Taxes - Select this option if you are adjusting taxes based on an estimate.

% to increase - If you have selected the Estimate Taxes option, this field will be displayed. If a Tax Increase Percentage has been entered in the lawyer profile screen, this amount will populate this field. Enter or edit the amount in this field as required. The % increase entered in this field will be added to the gross tax amount to calculate the adjustment.

Prepaid Taxes - Select this option if the seller has prepaid any of the property taxes and you require an adjustment for this prepayment.

Amount of Prepaid Taxes - If you have selected the Prepaid Taxes option, this field will be displayed. Enter the amount of prepaid taxes to be adjusted.

Taxes Being Paid By Buyer Rep - Select this option if the buyer rep will be collecting the seller and buyer portion of the taxes and remitting same to the taxing authority.

Description - The Description field will complete automatically if you click the Generate link. Once the description is generated, it can be edited. The information that displays in the Description field will appear on the Adjustments. 

Buyer Description, Seller Description - If you have selected the option Taxes Being Paid By Buyer Rep, then two Description fields will be displayed, Buyer Description and Seller Description. These Description fields will complete automatically if you click the Generate link. Once the descriptions are generated, they can be edited. The information that displays in these Description fields will appear on the appropriate Adjustments.

Calculation Preview - This field is completed automatically when you click tthe Generate link below the Description field, or when you click save. This field will also change automatically any time the adjustment date is changed. This field cannot be edited by you. The information that displays in this field will appear on the Adjustments.

Buyer Calculation Preview, Seller Calculation Preview - If you have selected the option Taxes Being Paid By Buyer Rep, then two Calculation Preview fields will be displayed, Buyer Calculation Preview and Seller Calculation Preview. These fields will complete automatically if you click the Generate link below the Description field or when you click save. These fields will also change automatically any time the adjustment date is changed.  These fields cannot be edited by you. The information that displays in these fields will appear on the appropriate Adjustments.

Adjusted Amount Preview - This field is completed automatically when you click the Generate link below the Description field, or when you click save. This field will also change automatically any time the adjustment date is changed. This field cannot be edited by you. The information that displays in this field will appear in the appropriate debit/credit column of the Adjustments.

Debit Buyer, Debit Seller - If you have selected the option Taxes Being Paid by Buyer Rep, the Debit Buyer and Debit Seller fields will be displayed. These fields will complete automatically if you click the Generate link below the Description field or when you click save. These fields will also change automatically any time the adjustment date is changed. These fields cannot be edited by you. The information that displays in these fields will appear on in the debit column on the appropriate Adjustments.

Show on Adjustments - Select this option if you wish all appropriate information from this screen to appear on the Adjustments. This option is selected by default.

Cost of Search - If you incurred a cost to obtain your tax search and you would like to show this cost as a disbursement or a separate Buyer's Statement of Adjustments entry, enter the cost of the search in this field.

HST - Enter the amount of HST paid on the cost of your search, if applicable.

Show Cost On - Select the appropriate option from the drop down. If you select Account, the cost of the search will appear as a disbursement on your statement of account. If you select Adjustment, the cost of the search will appear as an entry on the Buyer's Statement of Adjustments.