These new measures will take affect April 1st, 2012. The HST rebate threshold on a new home increases from $525,000 to $850,000 and the maximum rebate rises from $26,250 to $42,500.
Measures have also been put in place for the secondary/recreational home industry outside of Greater Vancouver and Capital Regional Districts, where the HST rebate threshold rises from $0 to a whopping $850,000.
What does this mean for you? First-time Buyers may be eligible for up to $10,000 in tax credits when purchasing newly built homes.
For more information on these new rebates click on the link and go to "New Housing Rules"
Return to PST in BC
Do you want to get the right advice? Contact Linda Dumka, Mobile Mortgage Specialist at linda.dumka@rbc.com to find out how she can help you. " Your new home doesn't come with mortgage advice. I do"
or visit the Mortgage and Lending Advice Centre. Mortgage Advice Centre
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