NEW HST Transition Rules
Higher HST Rebates for consumers and HST to PST transition rules...
On February 17th, the BC Minister of Finance, Kevin Falcon released HST transition rules and tax relief measures for the home building industry and its customers. Tax relief measures include:
Effective April 1, 2012, the HST rebate threshold on new homes increases to $850,000 from $525,000. The maximum rebate rises to $42,500 from $26,250.
Measures are also in place for the secondary/recreational home industry outside of the Greater Vancouver and Capital Regional Districts, where the HST rebate threshold rises to $850,000 from $0, also effective April 1, 2012.
For more information about the new rebates, go to http://www.pstinbc.ca/ and click on "New Housing Rules".