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HST new transitional rules announced today

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Blog by Bettina Reid Personal Real Estate Corporation | February 17th, 2012

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