In addition to the purchase price, you will pay 5% GST, approximately 2% Property Transfer tax, as well as monthly strata fees and annual property taxes. The monthly strata fee is adjusted annually based on the actual budget prepared by the property manager and approved by the owners elected representatives. At the end of each year, your strata fees are renewed based upon the agreed budget. Your strata fees cover literally every cost of ownership with the exception of your property taxes. See the Disclosure Statement for details.