5% federal GST On New Homes after April 1, 2013?

You only have to pay 5% federal GST on buying new homes after April 1, 2013:

1/  If offer is signed on or after April 1, 2013.

2/  If possession takes place on or after April 1, 2013.

3/  5% GST will replace 12% HST.

4/  Federal rebate (36% of 5% of house price) will still apply if you are qualified.

How come 2% embedded PST?

1/  Builders used to pay PST on construction materials.

2/  PST was part of the cost to build a house.

3/  The PST was included or embedded in the house selling price.

4/  The embedded PST on the average was about 2% of the house price.