HST Info as of July 1
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Here's a very helpful article prepared for me by Bill Rutledge, Notary Public on the tax implications of purchasing a home in BC after the July 1, 2010 Harmonized Sales Tax (HST) is introduced in British Columbia. The main points are: 2. The rebate system for the 7% of the provincial portion will be applied so that the buyer is only going to be responsible for a 2% tax up to $525,000 dollars and 7% on the balance. 3. HST, similar to GST, will be applied to Real Estate Agents commission. Almost always paid by the seller. For Bill Rutledge's contact information, feel free to visit our Home Owners Resource Center. |
To view the entire information package, click: |
HST Information for Buyers |