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.