Wednesday, April 10, 2013 BC Real Estate: Back To PSTBC Real Estate: Back To PSTOn April 1, 2013, BC reverted back from the HST to the GST + PST. The good news...You pay 5% GST on Real Estate Commissions instead of the 12% HST. The bad news... There is a temporary 2% transition tax on new homes/condos. BC’s 2% New Home Transition Tax At A GlanceApplies to all new residential homes that were 10% or more complete by April 1, 2013 & possession takes place between April 1, 2013 and April 1 2015. Payable by the buyer on the earlier of the completion date or 60 days after the Strata plan is registered. You can get a rebate based on percent complete as of April 1, 2013 as shown in the following table:
Additional ReadingBCREA: HST to GST: Transition Rules for Real Property BCREA: HST to PST: Transition Rules for Real Property.PDF Canada Revenue Agency: GST/HST Info Sheet GI-128
Follow Me On: Thursday, April 12, 2012 Top 28 Grants and Rebates for Property Buyers and OwnersThe top 28 Grants and rebates from the Real Estate Board of Greater Vancouver:
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