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HST new transitional rules announced today

Posted on February 16, 2012 by Bettina Reid

Today the BC government came out with their transitional rules for the HST when purchasing a newly constructed home.

As of April 1st the new threshold will go from $525,000 to $850,000 which is a substantial increase and with that the maximum rebate will go from $26,250 to $42,500. Considering the majority of house sales are under $850,000 this will be a big help to Buyers going forward.

The Liberal government has set up a website regarding the return to PST and the charts on the following link are easy to understand as they explain the difference

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.