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Tuesday 6 March 2012

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.

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I am a realtor specializing in the residential properties in the Greater Vancouver, British Columbia. I have been awarded with 15 years top achievement Medallion Award by the Greater Vancouver Real Estate Board.