Toronto Real Estate - Toronto Condos and Homes For Sale
February 4th, 2012 
Iris Li, B.A.
Sales Representative Toronto Real Estate Condos For Sale

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The plot thickens on the new pending HST on new Condos and Homes.

British Columbia is now proposing to increase the threshold of the BC rebate from homes priced at $400,000 to purchasers of homes up to $525,000.

This threshold will provide the highest provincial rebate in Canada.

Purchasers of new Condos and Homes up to $525,000 will pay no more tax due to harmonization in British Columbia, but not Ontario or more specifically Toronto!

Could it be the BC provincial government listened to the anti-HST protests and worked out a compromise?

Now we have a supposedly harmonized sales tax for ease of administration and to save money yet there is three different thresholds and two very different approaches to calculate this tax.

I am very surprised that the eastern provinces that have had the HST for some time seem resigned and for a better word numb to their own concerns as homeowners.

We recommend that the proposed HST rebates have the same universal thresholds and calculations right across Canada.

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